Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My Public Portal
About
FY 2020 Certified Comprehensive Annual Financial Report
Village of Glenview, Illinois Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE VILLAGE OF GLENVIEW, ILLINOIS As of and for the Year Ended December 31, 2020 Prepared by: Administrative Services - Finance Division VILLAGE OF GLENVIEW TABLE OF CONTENTS As of and for the Year Ended December 31, 2020 Page(s) INTRODUCTORY SECTION Officers and Officials i Certificate of Achievement for Excellence in Financial Reporting ii Organizational Chart iii Letter of Transmittal iv - viii FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT 1 - 3 REQUIRED SUPPLEMENTARY INFORMATION Management's Discussion and Analysis 4 - 18 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Position 19 Statement of Activities 20 - 21 Fund Financial Statements Balance Sheet - Governmental Funds 22 - 23 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 24 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 25 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 26 Statement of Net Position - Proprietary Funds 27 - 28 Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds 29 Statement of Cash Flows - Proprietary Funds 30 - 31 Statement of Fiduciary Net Position - Fiduciary Funds 32 Statement of Changes in Fiduciary Net Position - Fiduciary Funds 33 Index to Notes to Financial Statements 34 Notes to Financial Statements 35 - 96 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2020 Page(s) REQUIRED SUPPLEMENTARY INFORMATION Historical Pension and Other Postemployment Benefit Information Illinois Municipal Retirement Fund - Schedule of Changes in the Village's Net Pension Liability and Related Ratios 97 - 99 Illinois Municipal Retirement Fund - Schedule of Employer Contributions 100 - 102 Police Pension Fund - Schedule of Changes in the Village's Net Pension Liability and Related Ratios 103 - 104 Police Pension Fund - Schedule of Employer Contributions 105 - 106 Police Pension Fund - Schedule of Investment Returns 107 Firefighters' Pension Fund - Schedule of Changes in the Village's Net Pension Liability and Related Ratios 108 - 109 Firefighters' Pension Fund - Schedule of Employer Contributions 110 - 111 Firefighters' Pension Fund - Schedule of Investment Returns 112 Other Postemployment Benefit Plan - Schedule of Changes in the Total OPEB Liability and Related Ratios 113 General Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 114 Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Special Tax Allocation Fund - Major Special Revenue Fund 115 Notes to Required Supplementary Information 116 SUPPLEMENTARY INFORMATION General Fund Detailed Schedule of Revenues and Other Financing Sources - Budget and Actual - General Fund 117 - 119 Detailed Schedule of Expenditures and Other Financing Uses - Budget and Actual - General Fund 120 - 124 Other Governmental Funds Combining Balance Sheet - Nonmajor Governmental Funds 125 - 126 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 127 - 128 Detailed Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Motor Fuel Tax Fund - Nonmajor Special Revenue Fund 129 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2020 Page(s) SUPPLEMENTARY INFORMATION (cont.) Foreign Fire Insurance Fund - Nonmajor Special Revenue Fund 130 Police Department Special Account Fund - Nonmajor Special Revenue Fund 131 Waukegan Golf TIF Fund - Nonmajor Special Revenue Fund 132 Corporate Purpose Bonds Fund - Nonmajor Debt Service Fund 133 Glen Capital Projects Fund - Nonmajor Capital Projects Fund 134 Capital Projects Fund - Major Capital Projects Fund 135 Village Permanent Fund - Major Capital Projects Fund 136 Enterprise Funds Combining Statement of Net Position - Nonmajor Enterprise Funds 137 Combining Statement of Revenues, Expenses and Changes in Net Position - Nonmajor Enterprise Funds 138 Combining Statement of Cash Flows - Nonmajor Enterprise Funds 139 Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual (Budgetary Basis) Wholesale Water Fund - Nonmajor Enterprise Fund 140 Commuter Parking Lot Fund - Nonmajor Enterprise Fund 141 Glenview Water Fund - Major Enterprise Fund 142 - 143 Glenview Sanitary Sewer Fund - Major Enterprise Fund 144 Internal Service Funds Combining Statement of Net Position - Internal Services Funds 145 Combining Statement of Revenues, Expenses and Changes in Net Position - Internal Service Funds 146 Combining Statement of Cash Flows - Internal Service Funds 147 - 148 Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual Capital Equipment Replacement Fund (CERF) - Internal Service Fund 149 Municipal Equipment Repair Fund (MERF) - Internal Service Fund 150 Insurance and Risk Fund - Internal Service Fund 151 Facilities Repair and Replacement Fund (FRRF) - Internal Service Fund 152 Fiduciary Funds Combining Statement of Fiduciary Net Position - Pension Trust Funds 153 Combining Statement of Changes in Fiduciary Net Position - Pension Trust Funds 154 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2020 Page(s) SUPPLEMENTARY INFORMATION (cont.) Detailed Schedule of Changes in Fiduciary Net Position - Budget and Actual Police Pension Fund - Pension Trust Fund 155 Firefighters' Pension Fund - Pension Trust Fund 156 Combining Statement of Fiduciary Net Position - Custodial Funds 157 Combining Statement of Changes in Fiduciary Net Position - Custodial Funds 158 Glenview Library - Component Unit Combining Balance Sheet and Statement of Net Position - Glenview Library - Component Unit 159 - 162 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances and Statement of Activities - Glenview Library - Component Unit 163 - 164 Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Glenview Library - Component Unit Library General Fund 165 - 167 Library Debt Service Fund 168 Combining Balance Sheet - Glenview Library - Component Unit - Library Nonmajor Funds 169 - 170 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Glenview Library - Component Unit - Library Nonmajor Funds 171 - 172 Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Glenview Library - Component Unit - Library Nonmajor Funds Library Special Reserve Fund 173 Long-Term Debt Requirements Illinois Environment Protection Agency Loan 174 General Obligation Refunding Bond Series 2012A 175 General Obligation Refunding Bond Series 2012B 176 General Obligation Bond Series 2013A 177 General Obligation Bond Series 2013B 178 General Obligation Refunding Bond Series 2016A 179 Advanced Metering Infrastructure Loan 180 Glenview Naval Air Station (GNAS) Redevelopment Area Funds Combining Balance Sheet 181 Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances 182 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2020 Page(s) STATISTICAL SECTION Net Position - Last Ten Fiscal Years 183 - 184 Changes in Net Position - Last Ten Fiscal Years 185 - 188 Fund Balances of Governmental Funds - Last Ten Fiscal Years 189 - 190 Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years 191 - 192 Assessed Value and Actual Value of Taxable Property - Last Ten Levy Years 193 - 194 Direct and Overlapping Property Tax Rates - Last Ten Levy Years 195 - 198 Principal Property Tax Payers - Current Year and Nine Years Ago 199 Property Tax Levies and Collections - Last Ten Tax Levy Years 200 Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 201 Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years 202 Direct and Overlapping Governmental Activities Debt 203 Legal Debt Margin Information 204 Demographic and Economic Statistics - Last Ten Fiscal Years 205 Principal Employers - Current Year and Nine Years Ago 206 Full-time Equivalent Employees by Function/Program - Last Ten Fiscal Years 207 - 208 Operating Indicators by Function/Program - Last Ten Fiscal Years 209 - 210 Capital Asset Statistics by Function/Program - Last Ten Fiscal Years 211 - 212 -i- VILLAGE OF GLENVIEW, ILLINOIS OFFICERS AND OFFICIALS December 31, 2020 LEGISLATIVE James R. Patterson, Jr. Village President Mary W. Cooper, Trustee Deborah Karton, Trustee John Hinkamp, Trustee Karim Khoja, Trustee Michael Jenny, Trustee Chuck Gitles, Trustee Matthew J. Formica Village Clerk/Treasurer ADMINISTRATIVE Matthew J. Formica, Village Manager Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to Village of Glenview Illinois For its Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2019 Executive Director/CEO -ii- Citizens of Glenview Village Board Village Manager Village Manager’s Office Administrative Services PoliceFire Public WorksCommunity Development -iii- 2500 East Lake Avenue Glenview, IL 60026 (847) 904-4370 Fax (847) 724-1518 www.glenview.il.us -iv- June 10, 2021 Honorable Village President Jenny Members of the Board of Trustees Residents of the Village of Glenview State law requires that every general-purpose local government publish, within six months of the close of each fiscal year, a complete set of audited financial statements. The Comprehensive Annual Financial Report of the Village of Glenview, Illinois, for the fiscal year ended December 31, 2020 is published to fulfill that requirement. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal controls that are established for this purpose. Because the cost of internal controls should not exceed the anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. Baker Tilly US, LLP, Certified Public Accountants, has issued an unmodified (“clean”) opinion on the Village of Glenview’s (the “Village”) financial statements for the year ended December 31, 2020. The independent auditors’ report is located at the front of the financial section of this report. Management’s Discussion and Analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it. Profile of the Village of Glenview The Village of Glenview, incorporated in 1899, is located in northern Cook County and is 20 miles north of the City of Chicago. The Village serves a population of approximately 46,700 and is considered to be a primary government providing a full range of general governmental services. The Village is empowered to levy a property tax on real property located within its boundaries. It also is empowered by state statute to extend its corporate limits by annexation, which it has done from time to time. The Village’s legislative body consists of the Village President and a Board of six Trustees, all elected on an at-large basis to overlapping four-year terms. The Village Manager is responsible for the day-to-day operations of the Village. As defined by the Illinois Constitution, the Village of Glenview is a home rule municipality. -v- The Village provides comprehensive governmental services, including police and fire protection, health services, water and sewer utilities, street construction and maintenance, code enforcements, planning and zoning and general administrative services. In addition to serving Village residents, the Fire Department also provides fire protection and ambulance service to the Village of Golf as well as the Glenbrook Fire Protection District, which is comprised of approximately 15,000 residents located in unincorporated Cook County. Both of these entities have long-term intergovernmental agreements with the Village to pay for these services. Long-Term Financial Planning The Village of Glenview Comprehensive Annual Financial Report includes all of its governmental and business-type operation funds, pension trust funds (the Glenview Police Pension Fund and the Glenview Firefighters’ Pension Fund), custodial funds, and component unit (the Glenview Public Library) funds, based on financial accountability. The accompanying financial statements include only those funds of the Village and Library, as there are no other organizations for which it has financial accountability. The pension funds are determined to be pension trust funds due to their fiduciary and fiscal relationships with the Village as their sole purpose is to provide retirement benefits to the Village’s sworn police officers and firefighters. The Public Library is discretely presented as a component unit of the Village since it is governed by a separately elected Board of Trustees. The annual budget serves as the foundation for the Village’s financial planning and control. State law requires that a municipality operating under the budget system adopt its annual budget prior to the start of its fiscal year. Through the budget, spending authority is conveyed by the expenditure object. The legal level of budgetary control is the fund level. The Village utilizes a 5-year Capital Improvement Program (“CIP”) to address major capital and infrastructure improvements. For a project to be included in the CIP, it must involve the creation or purchase of a tangible asset with an original cost of at least $25,000 and a useful life of more than one year. The Village has primarily followed a “pay-as-you-go” funding strategy for maintenance and replacement of assets but on occasion has issued debt for new projects. Local Economy The Village of Glenview, located in the northern corridor of the Chicago metropolitan area, has a well- established reputation as a preeminent community. Glenview is an outstanding place to live and work, with an ideal mix of single family and multi-family residential housing, corporate headquarters and commercial/industrial businesses, excellent schools and municipal services. Of the Village’s 2019 assessed valuation, 73.69% was classified as residential, and 26.31% was commercial/industrial. A number of revenue sources in 2020 showed an increase over last year, despite the COVID-19 pandemic. For example, during 2020, the annual income tax revenue amount of $5,147028 was 2.63% higher than the income tax revenue received in 2019 due in large part to the enhanced unemployment benefits offered as relief efforts in response to the pandemic. Another example is the business district tax which increased 10.99% in 2020 from a 2019 amount of $58,922 to the 2020 amount of $65,397. Other revenues were down, mainly due to the impacts of COVD-19 on locally imposed taxes, including sales tax which decreased 2.28% from $18,631,360 in 2019 to $18,206,509 in 2020. -vi- More than any other event in recent history, the COVID-19 pandemic has created challenges to the local economy, and the Village has responded accordingly. The Village relies on a number of economically sensitive revenues that were affected by the Illinois Stay at Home Order that was effective March 21, 2020 and associated closure of tax generating businesses. In May 2020 the Village Board implemented a COVID-19 Financial Response Plan to mitigate these financial impacts. This plan called for cuts in operating expenses, deferral of certain capital projects and the use of cash reserves to offset the impact on the 2020 Budget. As the year progressed, and the economy gradually reopened as part of the Restore Illinois Plan, the Village began to see some revenues begin to rebound. While it is unknown how long the economy will continue to be affected by the pandemic, Village staff will monitor the sensitive revenues potential impacts as restrictions continue to be lifted. Major Initiatives and Accomplishments Village Board Goals and Initiatives – The Board of Trustees’ 2020 strategic goals remained much the same as they have over the last several years which are fiscal sustainability, infrastructure investment, challenging the status quo, and commitment to customer service. The Village continues to minimize the financial burden on Glenview taxpayers, identify cost efficiencies and opportunities, responsibly utilize Village reserves, develop and ensure the sustainability of a structurally balanced budget, and proactively design the Village organization in order to maximize the level of service that can be provided with the current level of resources. While the Village Board, management and staff are pleased to report that a primary goal of maintaining service levels while not increasing the burden to the taxpayers has been substantially achieved, it should be noted there remains reason to be cautious about the economy and the impact it has on the Village’s finances. The Village will continue to monitor the political uncertainty regarding the financial position of the State of Illinois, which continues to explore opportunities to both shift costs to local governments and reduce local governments’ share of certain tax revenues. Within this context, the Village Board, management, and staff have engaged in regular re-evaluation of every aspect of the Village’s operations to identify opportunities for cost containment and revenue generating initiatives. Positive cost containment efforts include the Village Board and managements’ efforts to develop a staffing model that is flexible and adaptable to changing workload demands. As an example, the Municipal Partnering Initiative (MPI) annually encourages more than 30 area communities to collaborate and work together to jointly bid common projects and services. The MPI collaboration has saved participating communities over $3.4 million during the last decade including an estimated $420,000 for the Village of Glenview alone. Another accomplishment for the Village is their success in obtaining outside funding for capital projects. From 2014 to 2021, the Village received over $43,000,000 in federal, state and local funds to support a number of infrastructure projects. Additionally, the Village has secured $12,600,000 in state and federal funds for projects scheduled through 2025. Staff continues to have project-ready plans to submit for outside funding as opportunities are made available. -vii- Development Initiatives In 2020, several significant redevelopment projects were approved or constructed as follows: • The Drake Group is proposing a 5-story mixed use building with a new bakery on the ground floor and 67 apartment units at 1850 Glenview Road. The approved project in Downtown Glenview is expected to start construction in summer 2021. • Several local elementary and middle schools in District 34 received approvals in 2020 for significant building additions and site modifications associated with a $119M referendum to update Henking, Lyon, Springman and Westbrook Schools. Construction is expected during summer 2021 • North Shore Country Club received approval in 2020 of renovations to the existing pool area, accessory buildings and modifications to the existing parking area. Construction is expected to commence in 2021. • Crash Champions, an auto repair use, was approved in 2020 to construct a 24,000 square foot commercial building to house local operations at 1650 Waukegan Road. Construction is expected to begin in 2021. • A 12,000 square foot community center for senior was approved at 3355 Milwaukee Avenue in 2021. Construction is expected to begin in late 2021. The operation will serve meals and provide additional aid to seniors including transport and counseling on healthcare. • A four-lot subdivision was approved at 1013 Prairie Lawn Road in 2021. The newly created lots will be sold to individual owners for construction of single-family detached residences. • Fields Lexus at 2200 Waukegan Road is expected to receive approval in 2021 for a 12,000 square foot showroom addition and façade upgrade at an existing auto dealership. • The Valley Lo Club at 2200 Tanglewood Drive is expected to receive final development approvals for a new outdoor bar and renovated outdoor patio improvements. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada awarded the Certificate of Achievement for Excellence in Financial Reporting to the Village for the year ended December 31, 2019. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded the Certificate of Achievement, the Village had to publish an easily readable and efficiently organized COMPREHENSIVE ANNUAL FINANCIAL REPORT that satisfied both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is only valid for a period of one year. The Village of Glenview has received a Certificate of Achievement for thirty-eight consecutive years (fiscal years ended 1982 through 2019). We believe that our current report continues to conform to the Certificate of Achievement Program requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. Baker Tilly US, LLP, trading as Baker Tilly, is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. © 2020 Baker Tilly US, LLP INDEPENDENT AUDITORS' REPORT To the Honorable Village President and Members of the Board of Trustees Village of Glenview, Illinois Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Village of Glenview,Illinois, as of and for the year ended December 31, 2020, and the related notes to the financial statements, which collectively comprise the Village of Glenview's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control over financial reporting relevant to the Village of Glenview's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the Village of Glenview's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. 1 To the Honorable Village President and Members of the Board of Trustees Village of Glenview, Illinois Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Village of Glenview,Illinois, as of December 31, 2020 and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the required supplementary information as listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit for the year ended December 31, 2020 was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village of Glenview's basic financial statements. The supplementary information for the year ended December 31, 2020 as listed in the table of contents is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements for the year ended December 31, 2020, and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplementary information is fairly stated in all material respects, in relation to the basic financial statements as a whole for the year ended December 31, 2020. 2 To the Honorable Village President and Members of the Board of Trustees Village of Glenview, Illinois We also previously audited, in accordance with auditing standards generally accepted in the United States of America, the basic financial statements of the Village of Glenview as of and for the year ended December 31, 2019 (not presented herein), and have issued our report thereon dated June 8, 2020, which contained unmodified opinions on the respective financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information. The supplementary information for the year ended December 31, 2019 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the 2019 financial statements. The information has been subjected to the auditing procedures applied in the audit of the 2019 basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare those financial statements or to those financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplementary information is fairly stated in all material respects in relation to the basic financial statements as a whole for the year ended December 31, 2019. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village of Glenview's basic financial statements. The introductory section and statistic section are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 10, 2021 on our consideration of the Village of Glenview's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is soley to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Village of Glenview's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Village of Glenview's internal control over financial reporting and compliance. Oak Brook, Illinois June 10, 2021 3 See independent auditors’ report. 4 Village of Glenview, Illinois Management’s Discussion and Analysis December 31, 2020 Our discussion and analysis of the Village of Glenview’s financial performance provides an overview of the Village’s financial activities for the fiscal year ended December 31, 2020. Please read it in conjunction with the transmittal letter, which begins on page iv and the Village’s basic financial statements, which begin on page 19. FINANCIAL HIGHLIGHTS The Village’s net position of governmental activities and business-type activities increased by $28,196,470, or 13.12%, and $4,112,108, or 6.11%, respectively, resulting in total ending net position for the year of $313,216,021. During the year, government-wide revenues before transfers for the governmental and business-type activities totaled $146,807,792, while expenses totaled $114,499,214, resulting in the increase in net position of $32,308,578. The Village’s net position totaled $313,216,021 on December 31, 2020, an increase of $32,308,578 from the prior fiscal year. The ending fund balance for the General Fund equaled $33,610,916, a decrease of $2,862,402 from 2019. USING THIS ANNUAL REPORT This annual report consists of a series of financial statements. The Statement of Net Position and the Statement of Activities (on pages 19-21) provide information about the activities of the Village as a whole and present a longer-term view of the Village’s finances. Fund financial statements begin on page 22. For governmental activities, these statements tell how these services were financed in the short term as well as what remains for future spending. Fund financial statements also report the Village’s operations in more detail than the government-wide statements by providing information about the Village’s most significant funds. The remaining statements provide financial information about fiduciary activities for which the Village acts solely as a trustee or agent for the benefit of those outside of the government. Government-Wide Financial Statements The government-wide financial statements provide readers with a broad overview of the Village’s finances, in a manner similar to a private-sector business. The government-wide financial statements can be found on pages 19-21 of this report. The Statement of Net Position reports information on all of the Village’s assets, deferred outflows of resources, liabilities and deferred inflows of resources, with the difference between them reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Village is improving or deteriorating. Consideration of other nonfinancial factors, such as changes in the Village’s property tax base and the condition of the Village’s infrastructure, is needed to assess the overall health of the Village. See independent auditors’ report. 5 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 USING THIS ANNUAL REPORT – Continued Government-Wide Financial Statements - Continued The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of the government-wide financial statements distinguish functions of the Village that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the Village include general government, public works, public safety, and development. The business-type activities of the Village include water and sanitary sewer operations, wholesale water operations, and commuter parking operations. The Village includes one separate legal entity in its report. The Glenview Public Library is presented as a discretely presented component unit. Although legally separate, this “component unit” is important because the Village is financially accountable for it. Financial information for the component unit is reported separately from the financial information presented for the primary government itself. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Village, like other local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Village can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental Funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the Village’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds balance sheet and the governmental funds statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities. See independent auditors’ report. 6 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 USING THIS ANNUAL REPORT – Continued Governmental Funds - Continued The Village maintains ten individual governmental funds. Information is presented separately in the governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for the General Fund, Special Tax Allocation Fund, Capital Projects Fund and Village Permanent Fund all of which are considered to be major funds. Data from the other six governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The Village adopts an annual budget for all of the governmental funds. Budgetary comparison schedules for all budgeted funds have been provided to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on pages 22-26 of this report. Proprietary Funds The Village maintains two proprietary fund types: enterprise and internal service. Enterprise funds are used to report the same functions presented as business-type activities in the government–wide financial statements. The Village utilizes enterprise funds to account for its water and sanitary sewer operations, wholesale water operations, and commuter parking operations. Internal service funds are accounting devices used to accumulate and allocate costs internally among the Village’s various functions. The Village uses internal service funds to account for its capital equipment replacement program, municipal equipment repair program, facilities replacement program and health insurance and risk management programs. These services predominantly benefit governmental rather than business-type functions, and therefore, have been included within governmental activities in the government-wide financial statements. Proprietary fund financial statements provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the Glenview Water Fund and the Glenview Sanitary Sewer Fund, both of which are considered to be major funds of the Village. Data from the other two proprietary funds are combined into a single, aggregated presentation. Conversely, the internal service funds are presented in the proprietary fund financial statements in a single column. Individual fund data for the internal service funds is provided elsewhere in this report. The basic proprietary fund financial statements can be found on pages 27-31 of this report. Fiduciary Funds Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the Village’s own programs. The accounting use for fiduciary funds is much like that used for proprietary funds. The basic fiduciary fund financial statements can be found on pages 32-33 of this report. See independent auditors’ report. 7 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 USING THIS ANNUAL REPORT – Continued Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 34-96 of this report. Other Information In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Village’s Illinois Municipal Retirement Fund, police and fire pension funds, and other post-employment benefit employee pension obligations. The required supplementary information also contains budget to actual comparison schedules for the General Fund and major special revenue funds. Required supplementary information can be found on pages 97-113 of this report. The combining statements referred to earlier in connection with nonmajor governmental funds and internal service funds are presented immediately following the required supplementary information on pensions. Combining and individual fund statements and schedules for the Village can be found on pages 114-158 of this report. Additionally, the combining and individual fund statements for the component unit can be found on pages 159-173. GOVERNMENT-WIDE FINANCIAL ANALYSIS Net position may serve over time as a useful indicator of a government’s financial position. The following table shows that in the case of the Village of Glenview, total assets/deferred outflows exceeded liabilities/deferred inflows by $313,216,021 at December 31, 2020, compared to $280,907,443 at December 31, 2019. In fiscal year 2015, the Village implemented the provisions of Governmental Accounting Standards Board (GASB) Statement No.68 and No.71, related to the reporting of the Village’s participation with the Illinois Municipal Retirement Fund (IMRF), Police Officers’ and Firefighters’ Pension Plans. The Village’s total net pension liability at December 31, 2020 is $74,635,385 which is made up of $5,362,930, $29,136,834, and $40,135,621, respectively. The Village’s total net pension liability at December 31, 2019 is $90,218,655 which is made up of $13,880,343, $29,593,749, and $46,744,563, respectively. The provisions of the Statement also provide for the recording of items called deferred outflows (future expenses) and deferred inflows (future revenues) related to the pension plans. At December 31, 2020, the Village has offset the total net pension liabilities of $74,635,385 with deferred outflows of $14,053,681and deferred inflows of $18,904,432. At December 31, 2019, the Village has offset the total net pension liabilities of $90,218,655 with deferred outflows of $19,215,614 and deferred inflows of $10,176,529. A large portion of the Village’s net position, $284,059,882, reflects its investment in capital assets (for example, infrastructure, land, buildings and improvements, machinery, and equipment), less any related debt used to acquire those assets that is still outstanding. The Village uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the Village’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. An additional portion, $18,545,802 of the Village’s net position represents resources that are subject to external restrictions on how they may be used, including restrictions for future street improvements, debt service payments, public safety, and future capital development. The remaining $10,610,337 represents unrestricted net position. See independent auditors’ report. 8 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Normal Impacts There are six basic (normal) transactions that will affect the comparability of the Statement of Net Position summary presentation: 1) Net Results of Activities – which will impact (increase/decrease) current assets and unrestricted net position. 2) Borrowing for Capital – which will increase current assets and long-term debt outstanding. 3) Spending Borrowed Proceeds on New Capital – which will reduce current assets and increase capital assets. There is a second impact, an increase in investment in capital assets and an increase in related net debt, which will not change the investment in capital assets, net of related debt total. 4) Spending Nonborrowed Current Assets on New Capital – which will (a) reduce current assets and increase capital assets and (b) will reduce unrestricted net position and increase investment in capital assets, net of related debt. 5) Principal Payment on Debt – which will (a) reduce current assets and reduce long-term debt and (b) reduce unrestricted net position and increase investment in capital assets, net of related debt. 6) Reduction of Capital Assets through Depreciation – which will reduce capital assets and reduce investment in capital assets, net of related debt. 2020 2019 2020 2019 2020 2019 Current and other assets 147,113,024 $ 136,413,376 $ 16,232,934 $ 13,075,324 $ 163,345,958 $ 149,488,700 $ Capital assets 245,068,154 239,529,478 63,301,150 62,965,437 308,369,304 302,494,915 Total assets 392,181,178 375,942,854 79,534,084 76,040,761 471,715,262 451,983,615 Deferred Outflow of Resources 16,945,774 20,381,955 825,468 1,799,048 17,771,242 22,181,003 Total deferred outflows 16,945,774 20,381,955 825,468 1,799,048 17,771,242 22,181,003 Long-term liabilities 109,429,630 132,465,472 5,990,948 8,282,082 115,420,578 140,747,554 Other liabilities 25,989,143 28,340,417 2,125,796 1,882,380 28,114,939 30,222,797 Total liabilities 135,418,773 160,805,889 8,116,744 10,164,462 143,535,517 170,970,351 Deferred Inflows of Resources 31,900,989 21,908,200 833,977 378,624 32,734,966 22,286,824 Total deferred inflows 31,900,989 21,908,200 833,977 378,624 32,734,966 22,286,824 Net Position Net investment in capital assets 225,337,565 211,320,561 58,722,317 57,542,738 284,059,882 268,863,299 Restricted 18,545,802 8,162,705 - - 18,545,802 8,162,705 Unrestricted (2,076,177) (5,872,546) 12,686,514 9,753,985 10,610,337 3,881,439 Total net position 241,807,190 $ 213,610,720 $ 71,408,831 $ 67,296,723 $ 313,216,021 $ 280,907,443 $ Activities Activities Government Table 1 Statement of Net Position As of December 31, 2020 and 2019 Governmental Business-Type Total Primary See independent auditors’ report. 9 Village of Glenview, Illinois Management’s Discussion and Analysis December 31, 2020 Revenue 2020 2019 2020 2019 2020 2019 Program revenues Charges for services 15,888,315 $ 15,352,199 $ 22,987,021 $ 20,119,509 $ 38,875,336 $ 35,471,708 $ Grants and contributions Operating 3,806,521 2,670,493 - - 3,806,521 2,670,493 Capital 5,643,948 2,130,850 - 749,463 5,643,948 2,880,313 General Revenue Taxes Property 52,844,232 48,961,852 - - 52,844,232 48,961,852 Home rule 8,630,650 8,756,960 - - 8,630,650 8,756,960 Telecommunication 1,283,383 1,526,415 - - 1,283,383 1,526,415 Utility 3,393,490 3,650,068 - - 3,393,490 3,650,068 Other 547,998 1,408,756 - - 547,998 1,408,756 Intergovernmental Sales 18,206,509 18,631,360 - - 18,206,509 18,631,360 State income 5,147,028 5,014,901 - - 5,147,028 5,014,901 Local use 2,040,735 1,577,084 - - 2,040,735 1,577,084 Road and bridge 452,483 452,483 - - 452,483 452,483 Property replacement 227,358 227,358 - - 227,358 227,358 Other 1,614,249 1,682,036 - - 1,614,249 1,682,036 Investment income 2,189,159 3,149,929 84,051 191,730 2,273,210 3,341,659 Other general revenues 1,819,373 2,387,579 1,289 5,953 1,820,662 2,393,532 Total revenues 123,735,431 117,580,323 23,072,361 21,066,655 146,807,792 138,646,978 Expenses General government 43,729,644 43,756,473 - - 43,729,644 43,756,473 Public works 33,759,829 38,694,541 - - 33,759,829 38,694,541 Public safety 14,027,726 14,931,138 - - 14,027,726 14,931,138 Development 3,945,053 3,982,894 - - 3,945,053 3,982,894 Interest on long-term debt 974,733 1,361,391 - - 974,733 1,361,391 Water services - - 13,032,322 12,015,899 13,032,322 12,015,899 Sanitary sewerage - - 2,006,711 2,179,278 2,006,711 2,179,278 Wholesale water - - 2,336,738 1,428,116 2,336,738 1,428,116 Commuter parking - - 686,458 649,542 686,458 649,542 Total expenses 96,436,985 102,726,437 18,062,229 16,272,835 114,499,214 118,999,272 Change in net position before transfers 27,298,446 14,853,886 5,010,132 4,793,820 32,308,578 19,647,706 Transfers 898,024 881,334 (898,024) (881,334) - - Change in net position 28,196,470 15,735,220 4,112,108 3,912,486 32,308,578 19,647,706 Net position - beginning 213,610,720 197,875,500 67,296,723 63,384,237 280,907,443 261,259,737 Net position - ending 241,807,190 $ 213,610,720 $ 71,408,831 $ 67,296,723 $ 313,216,021 $ 280,907,443 $ Activities Activities Government Table 2 Changes in Net Position For the Fiscal Years Ended December 31, 2020 and 2019 Governmental Business-Type Total Primary See independent auditors’ report. 10 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Normal Impacts There are seven basic (normal) impacts on revenues and expenses as reflected below: Revenues: 1) Economic Condition – which can reflect a declining, stable, or growing economic environment and has a substantial impact on state income, sales, and utility tax revenue as well as public spending habits for building permits, elective user fees, and levels of consumption. 2) Increase/Decrease in Village-Approved Rates – while certain tax rates are set by statute, the Village Board has significant authority to impose and periodically increase/decrease rates (property taxes, water, sewer, impact fees, building fees, home rule sales tax, etc.). 3) Changing Patterns in Intergovernmental and Grant Revenue (both Recurring and Nonrecurring) – certain recurring revenues (state-shared revenues, etc.) may experience significant changes periodically, while nonrecurring (or one-time) grants are less predictable and often distorting due to their impact on year-to-year comparisons. 4) Market Impacts on Investment Income – the Village’s investment policy is managed using a similar average maturity to most governments. Market conditions may cause investment income to fluctuate. Expenses: 5) Introduction of New Programs – within the functional expense categories (general government, public works, public safety, etc.), individual programs may be added or deleted to meet changing community needs. Change in Authorized Personnel – changes in service demand may cause the Village Board to increase/decrease authorized staffing. Personnel costs (salary and related benefits) represent approximately 46.6% of the Village’s General Fund expenditures (including transfers) and approximately 19.6% of enterprise operating costs at December 31, 2020. 6) Salary Increases (Annual Adjustments and Merit) – the ability to attract and retain human and intellectual resources requires the Village to strive to approach a competitive salary range position in the marketplace. 7) Inflation – while overall inflation appears to be reasonably modest, the Village is a major consumer of certain commodities such as supplies, fuels, and parts. Some functions may experience unusual commodity-specific increases. See independent auditors’ report. 11 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Net position of the Village’s governmental activities increased by 13.20%, or $28,196,470 ($241,807,190 in 2020 compared to $213,610,720 in 2019). This increase is due to a combination of lower than anticipated revenues offset by a decrease in both general obligation debt and net pension liability. Net position of business-type activities increased 6.11%, or $4,112,108 ($71,408,831 in 2020 compared to $67,296,723 in 2019). Governmental Activities Revenues: Revenues for governmental activities totaled $123,735,431 at December 31, 2020 and $117,580,323 at December 31, 2019, an increase of $6,155,108. Some key changes during the year for the governmental activity revenues are described below: Property tax revenues increased by $3,882,380, or 7.93%, from $48,961,852 at December 31, 2019 to $52,844,232 at December 31, 2020. Sales tax decreased by $424,851, or 2.28%, from $18,631,360 at December 21, 2019 to $18,206,509 at December 31, 2020. Local Use tax increased by $463,651, or 29.40%, from $1,577,084 at December 31, 2019 to $2,040,735 at December 31, 2020. See independent auditors’ report. 12 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Governmental Activities – Continued The following table graphically depicts the major revenue sources of the Village. It illustrates very clearly the reliance of property taxes and sales taxes to fund governmental activities. It also clearly identifies the less significant percentage the Village receives from income taxes, telecommunication taxes, and utility taxes. See independent auditors’ report. 13 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Governmental Activities – Continued For the year ended December 31, 2020, governmental activities expenses totaled $96,436,985, a decrease of $6,289,452, or 6.12% from the 2019 expenses of $102,726,437. Business-Type activities Business-Type activities posted total revenues of $23,072,361, while the cost of all business-type activities totaled $18,062,229. This results in a surplus of $5,010,132 prior to net transfers out of $898,024. In 2019, revenues of $21,066,655 exceed expenses of $16,272,835, resulting in a surplus of $4,793,820 prior to net transfers out of $881,334. Revenues For the fiscal year ended December 31, 2020, revenues for the business-type activities totaled $23,072,361, an increase of $2,005,706, or 9.52%, due primarily to an increase in water charges with a new wholesale customer. Expenses Expenses for the year ended December 31, 2020 totaled $18,062,229 an increase of $1,789,394, or 11.00% over the 2019 expenses of $16,272,835. See independent auditors’ report. 14 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS As noted earlier, the Village uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds The focus of the Village’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. The Village’s governmental funds reported combining ending fund balances of $87,466,773, which is $10,439,287, or 13.55%, higher than last year’s total of $77,027,486. Of the $87,466,773 total, $32,445,006, or approximately 37.09%, of the fund balance constitutes unassigned fund balance. General Fund The General Fund reported a decrease in fund balance for the year of $2,862,402 or 7.85%, which is due to a combination of lower than anticipated revenues partially offset by lower than anticipated budgeted expenditures. The General Fund is the chief operating fund of the Village. At December 31, 2020, unassigned fund balance in the General Fund was $32,445,006 which represents 96.5% of the total fund balance of the General Fund. As a measure of the General Fund’s liquidity, it is useful to compare unassigned fund balance to total fund expenditures. Unassigned fund balance in the General Fund represents approximately 42% of total General Fund expenditures (including transfers). Other Major Funds The Special Tax Allocation Fund is used to account for the incremental property tax revenue that is generated through the growth of the assessed valuation at The Glen (formally referred to as Glenview Naval Air Station), and the ‘Make-Whole’ payments to core jurisdictions within the boundaries of the Tax Increment Financing District. The core jurisdictions consist of: the Village of Glenview, School District 34, School District 225, the Glenview Park District, and the Glenview Public Library, a discretely presented component unit of the Village. This fund also accounts for the service and incentive fees within the Tax Increment Financing District. At December 31, 2020, the Special Tax Allocation Fund reported revenues in excess of expenditures of $10,383,627, which for the most part was expected but did vary from budget by property tax revenues coming in over budget by $3,107,023 and expenses coming in under budget by $229,728. The Village Permanent Fund, reported as a capital projects fund, was formed from 20% of the land sales proceeds of The Glen. Ongoing, the resources are used for Village-wide improvements and economic development initiatives as well as short-term liquidity for the Village’s Tax Increment Financing (TIF) projects at The Glen. For the year ended December 31, 2020, the Village Permanent Fund reported revenues more than expenditures of $272,082. The Capital Projects Fund is used to account for revenues and expenditures involved with improvements throughout the Village not accounted for in other funds. For the year ended December 31, 2020, the Capital Projects Fund reported a positive net change in fund balance of $2,587,705. See independent auditors’ report. 15 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued Proprietary Funds The Village’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. The Village reports the Glenview Water and the Glenview Sanitary Sewer Funds as major proprietary funds. The Village also reports two nonmajor proprietary funds, the Wholesale Water Fund and the Commuter Parking Fund. The Glenview Water Fund accounts for the provision of water services to the property owners in the Village. The Glenview Sanitary Sewer Fund accounts for the provision of sanitary sewer services to property owners in both incorporated and unincorporated areas of the Village. The Village purchases Lake Michigan water from neighboring Wilmette. The spread between purchase and sale rates is intended to finance the operations of the utility system; including labor costs, supplies, and infrastructure maintenance. The surplus in the Glenview Water Fund during the current fiscal year was $3,231,007; the previous fiscal year reported a surplus of $3,402,571. The surplus in this fund is largely the result of operating expenses coming in $1,492,791 lower than budget (due in large part to GAAP adjustments) offset by operating revenues and transfers in coming in $1,707,229 higher than budget. Unrestricted net position in the Glenview Water Fund totaled $7,521,920 at December 31, 2020. The surplus in the current year in the Glenview Sanitary Sewer Fund was $482,437, resulting in ending net position of $20,774,921. In the prior year the Glenview Sanitary Sewer Fund reported a surplus of $444,749. The current year surplus was due to expenses being lower than budget by $721,789. See independent auditors’ report. 16 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 GENERAL FUND BUDGETARY HIGHLIGHTS General Fund actual revenues (including other financing sources) for the year totaled $72,709,139 compared to budgeted revenues of $74,973,775, a negative difference of $2,264,636. There are several factors for this negative variance. The largest variance to budget resides in Hotel Room taxes being under budget by $829,940 and Home Rule sales tax being under budget by $307,569. Combined with various other smaller increases these items make up the negative variance. The General Fund actual expenditures (including transfers) for the year of $74,996,541 were $3,817,156 lower than budgeted expenditures of $78,813,697. Personnel expenditures of $35,228,067 were over budget by $149,288 or 0.4% primarily due to retirements in the Fire Department. Contractual Services were under budget by $1,679,221 or 11.5% primarily due to lower expenses in equipment maintenance, snow and ice maintenance, building inspections, plan review services and software licensing. Commodities were under budget by $97,664 or 5.22% mainly due to lower natural gas costs, fewer than anticipated electronic equipment and supplies, and purchases of operational supplies. Other Charges were under budget by $575,314 or 20.97% due to lower training and travel costs. Capital Outlay was under budget by $141,886 or 70.94% due to lower tree planting program expenses. Interfund Charges were $272,720 or 5.78% under budget as the cost of fuel and routine maintenance charges for the Village fleet were lower than anticipated. Original Final Budget Budget Actual Revenues Taxes 28,044,741 $ 28,044,741 $ 26,238,788 $ Intergovernmental 29,345,953 29,345,953 30,737,142 Other 17,008,081 17,008,081 15,158,209 Total revenues 74,398,775 74,398,775 72,134,139 Expenditures (66,178,715) (66,178,715) (63,310,792) Transfers in 575,000 575,000 575,000 Transfers out (13,209,982) (13,209,982) (12,260,749) Total expenditures and net transfers (78,813,697) (78,813,697) (74,996,541) Net change in fund balance (4,414,922) $ (4,414,922) $ (2,862,402) $ Table 3 General Fund Budgetary Highlights See independent auditors’ report. 17 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets The Village’s investment in capital assets for its governmental and business type activities as of December 31, 2020 was $308,369,304 (net of accumulated depreciation). This investment in capital assets includes land, buildings and improvements, machinery, equipment, and vehicles, water and sanitary sewer system improvements, and other infrastructure improvements. This year’s major additions included: Additional information on the Village’s capital assets can be found in Note III on pages 59-60 of this report. 2020 2019 2020 2019 2020 2019 Construction in progress -$ -$ -$ -$ -$ -$ Land 26,041,796 21,076,696 567,851 567,851 26,609,647 21,644,547 Land right of way 55,281,951 55,281,951 - - 55,281,951 55,281,951 Buildings and improvements 65,839,419 67,831,810 1,830,343 1,740,880 67,669,762 69,572,690 Machinery, equipment and vehicles 5,736,899 5,986,863 423,552 574,267 6,160,451 6,561,130 Infrastructure 92,168,089 89,352,158 - - 92,168,089 89,352,158 Water system - - 41,900,845 41,419,279 41,900,845 41,419,279 Sanitary sewer system - - 18,578,559 18,663,160 18,578,559 18,663,160 Total 245,068,154 $ 239,529,478 $ 63,301,150 $ 62,965,437 $ 308,369,304 $ 302,494,915 $ Activities Activities Government Table 4 Capital Assets at Year End Net of Depreciation Governmental Business-Type Total Primary Additions Construction in progress -$ Land 4,965,100 Building and improvements 357,812 Infrastructure, including roadways, etc. 6,884,250 Machinery, equipment and vehicles 1,023,068 Sanitary sewer system 441,745 Water system 1,818,770 Total 15,490,745 $ See independent auditors’ report. 18 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2020 CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued Debt Administration At year-end, the Village had total outstanding debt of $25,166,218 as compared to $34,756,108 the previous year, a decrease of $9,589,890, or 27.6%, due to principal retirements that reduced the outstanding liability on the bonds. The following is a comparative statement of outstanding debt: The Village maintains an Aaa rating from Moody’s for general obligation debt. This rating has not changed in the past thirty years. As the Village is a home rule community, there is no legal limit for outstanding debt. Additional information on the Village’s long-term debt can be found in Note III on pages 63-66 of this report. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES The Village’s elected and appointed officials considered many factors when setting the fiscal-year 2021 budget, tax rates, and fees that will be charged for its governmental and business-type activities. One of those factors is the economy. When the balanced budget was adopted in December 2020, the Village was continuing to maintain a strong and stable economic position even though it was negatively impacted by the COVID-19 pandemic. The goals remained to minimize the financial burden on Glenview taxpayers, to continue identifying cost cutting strategies and opportunities, responsibly utilize Village reserves when necessary, and proactively structure the Village in a way that will maximize the level of service than can be provided with the current level of resources. The budget also included a continuation of the prioritization in the Village’s infrastructure replacements with a $21.6M Capital Improvement Program (CIP). The Village continued to monitor the potential economic and financial impacts of the federal, state, and local actions in mitigating the COVID-19 pandemic. Also continually being analyzed are the three to five year financial models to ensure the Village’s long term sustainability. REQUEST FOR INFORMATION This financial report is designed to provide a general overview of the Village of Glenview’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional information should be directed to the Administrative Services Department, Village of Glenview, 2500 East Lake Avenue, Glenview, Illinois 60026. 2020 2019 2020 2019 2020 2019 General obligation bonds 20,331,496 $ 29,053,149 $ -$ -$ 20,331,496 $ 29,053,149 $ Corporate purpose notes - - 4,578,833 5,422,699 4,578,833 5,422,699 Loans payable 255,889 280,260 - - 255,889 280,260 Total debt 20,587,385 $ 29,333,409 $ 4,578,833 $ 5,422,699 $ 25,166,218 $ 34,756,108 $ Governmental Business-Type Total Primary Activities Activities Government VILLAGE OF GLENVIEW STATEMENT OF NET POSITION As of December 31, 2020 Governmental Activities Business-type Activities Totals Glenview Library ASSETS Cash and Cash Equivalents $110,579,950 $10,909,722 $121,489,672 $6,274,869 Investments 5,305,473 968,200 6,273,673 - Receivables (net) Taxes 21,814,809 -21,814,809 8,173,688 Accounts 361,052 4,273,331 4,634,383 - Other 1,084,625 31,941 1,116,566 - Prepaid Items 1,217,188 -1,217,188 24,607 Inventories 595,131 49,740 644,871 - Due from Other Governments 155,159 -155,159 - Due from Custodial Funds 1,067 -1,067 - Notes Receivable 2,433,667 -2,433,667 - Lease Receivable 448,090 -448,090 - Deposits 581,187 -581,187 - Advances to Custodial Funds 310,626 -310,626 - Property Held for Resale 2,225,000 -2,225,000 - Capital Assets Land 26,041,796 567,851 26,609,647 5,426,987Land Right of Way 55,281,951 -55,281,951 - Other Capital Assets, Net of Depreciation 163,744,407 62,733,299 226,477,706 24,587,267 Total Assets 392,181,178 79,534,084 471,715,262 44,487,418 DEFERRED OUTFLOWS OF RESOURCES Deferred Charge on Refunding 600,907 -600,907 706,363 Deferred Outflows Related to Pensions 13,306,609 747,072 14,053,681 992,859 Deferred Outflows Related to OPEB 3,038,258 78,396 3,116,654 57,151 Total Deferred Outflows of Resources 16,945,774 825,468 17,771,242 1,756,373 LIABILITIES Accounts Payable 22,308,855 1,815,351 24,124,206 429,972 Accrued Payroll 575,828 43,942 619,770 58,124 Accrued Interest Payable 59,657 6,868 66,525 47,637 Other Payables 1,090,773 239,960 1,330,733 - Due to Pension Trusts 21,328 -21,328 -Refundable Deposits 1,644,900 19,675 1,664,575 - Unearned Revenues 287,802 -287,802 - Noncurrent Liabilities Due Within One Year 9,467,932 1,067,253 10,535,185 1,233,771 Due in More Than One Year 99,961,698 4,923,695 104,885,393 15,540,654 Total Liabilities 135,418,773 8,116,744 143,535,517 17,310,158 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for Future Periods 12,350,773 -12,350,773 8,157,071 Deferred Inflows Related to Pensions 18,107,676 796,756 18,904,432 1,298,249 Deferred Inflows Related to OPEB 1,442,540 37,221 1,479,761 27,135 Total Deferred Inflows of Resources 31,900,989 833,977 32,734,966 9,482,455 NET POSITION Net Investment in Capital Assets 225,337,565 58,722,317 284,059,882 15,876,517 Restricted for Street Improvements 809,251 -809,251 -Public Safety 240,807 -240,807 - Economic Development 17,495,744 -17,495,744 - Culture and Recreation ---1,051,309 Unrestricted (2,076,177)12,686,514 10,610,337 2,523,352 TOTAL NET POSITION $241,807,190 $71,408,831 $313,216,021 $19,451,178 See accompanying notes to financial statements. 19 VILLAGE OF GLENVIEW STATEMENT OF ACTIVITIES For the Year Ended December 31, 2020 Program Revenues Functions/Programs Expenses Charges for Services Operating Grants and Contributions Capital Grants and Contributions Primary Government Governmental Activities General Government $43,729,644 $3,951,113 $-$- Public Safety 33,759,829 10,563,869 144,761 - Public Works 14,027,726 1,006,921 3,483,094 - Development 3,945,053 366,412 178,666 5,643,948 Interest and Fiscal Charges 974,733 --- Total Governmental Activities 96,436,985 15,888,315 3,806,521 5,643,948 Business-type Activities Glenview Water Fund 13,032,322 15,875,036 -- Glenview Sanitary Sewer Fund 2,006,711 2,550,313 -- Wholesale Water Fund 2,336,738 4,408,385 -- Commuter Parking Lot Fund 686,458 153,287 -- Total Business-type Activities 18,062,229 22,987,021 -- Total Primary Government $114,499,214 $ 38,875,336 $ 3,806,521 $ 5,643,948 Component Unit Glenview Library $ 8,724,743 $136,740 $ 1,191,756 $- General Revenues Taxes Property Home Rule Sales Telecommunication Utility Other Intergovernmental - unrestricted Sales Income Local Use Other Taxes Investment Income Gain on Sale of Assets Miscellaneous Total General Revenues Transfers Change in net position NET POSITION - Beginning of Year NET POSITION - END OF YEAR See accompanying notes to financial statements. 20 Net (Expenses) Revenues and Changes in Net Position Primary Government Component Unit Governmental Activities Business-type Activities Totals Glenview Library $(39,778,531)$-$(39,778,531)$- (23,051,199)-(23,051,199)- (9,537,711)-(9,537,711)- 2,243,973 -2,243,973 - (974,733)-(974,733)- (71,098,201)-(71,098,201)- -2,842,714 2,842,714 - -543,602 543,602 - -2,071,647 2,071,647 - -(533,171)(533,171)- -4,924,792 4,924,792 - (71,098,201)4,924,792 (66,173,409)- ---(7,396,247) 52,844,232 -52,844,232 8,200,174 8,630,650 -8,630,650 - 1,283,383 -1,283,383 - 3,393,490 -3,393,490 - 547,998 -547,998 - 18,206,509 -18,206,509 - 5,147,028 -5,147,028 - 2,040,735 -2,040,735 - 2,294,090 -2,294,090 - 2,189,159 84,051 2,273,210 52,455 91,714 -91,714 - 1,727,659 1,289 1,728,948 - 98,396,647 85,340 98,481,987 8,252,629 898,024 (898,024)-- 28,196,470 4,112,108 32,308,578 856,382 213,610,720 67,296,723 280,907,443 18,594,796 $241,807,190 $ 71,408,831 $313,216,021 $ 19,451,178 See accompanying notes to financial statements. 21 VILLAGE OF GLENVIEW BALANCE SHEET GOVERNMENTAL FUNDS As of December 31, 2020 General Fund Special Tax Allocation Fund Capital Projects Fund Village Permanent Fund Nonmajor Governmental Funds Totals ASSETS Cash and Cash Equivalents $26,312,667 $43,990,593 $7,471,710 $9,679,115 $6,346,406 $93,800,491 Investments 1,189,500 --968,700 -2,158,200 Receivables (net) Taxes 21,814,809 ----21,814,809 Accounts 176,768 101,517 61,785 --340,070 Grants 445,857 -71,157 --517,014 Accrued Interest 46,102 --30,898 -77,000 Other 351,595 ----351,595 Inventories 165,910 ----165,910 Due from Other Funds 5,765 ---3,797 9,562 Due from Other Governments ----155,159 155,159 Due from Custodial Funds 1,067 ----1,067 Notes Receivable -2,433,667 ---2,433,667 Lease Receivable -6,090 -442,000 -448,090 Property Held for Resale ---2,225,000 -2,225,000 Advances to Other Funds ---16,151,286 -16,151,286 Advances to Custodial Funds ---310,626 -310,626 TOTAL ASSETS $50,510,040 $46,531,867 $7,604,652 $29,807,625 $6,505,362 $140,959,546 See accompanying notes to financial statements. 22 VILLAGE OF GLENVIEW BALANCE SHEET GOVERNMENTAL FUNDS As of December 31, 2020 General Fund Special Tax Allocation Fund Capital Projects Fund Village Permanent Fund Nonmajor Governmental Funds Totals LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES Liabilities Accounts Payable $1,613,118 $17,128,669 $2,220,040 $-$545,701 $21,507,528 Accrued Payroll 561,261 5,479 --253 566,993 Other Payables 458,269 -521,065 -486 979,820 Refundable Deposits 1,644,900 ----1,644,900 Due to Other Funds 3,797 ---103 3,900 Due to Pension Trusts 21,328 ----21,328 Unearned Revenues 245,678 --20,285 -265,963 Advances from Other Funds -16,151,286 ---16,151,286 Total Liabilities 4,548,351 33,285,434 2,741,105 20,285 546,543 41,141,718 Deferred Inflows of Resources Property Taxes Levied for Future Periods 12,350,773 ----12,350,773 Unavailable Grant Revenue --282 --282 Total Deferred Inflows of Resources 12,350,773 -282 --12,351,055 Fund Balances Nonspendable for Inventory 165,910 ----165,910 Restricted for Street Improvements ----809,251 809,251 Restricted for Public Safety ----240,807 240,807 Restricted for Economic Development -13,246,433 --4,249,311 17,495,744 Assigned to Debt Service Funds ----555,417 555,417 Assigned to Capital Project Funds 1,000,000 -4,863,265 29,787,340 104,033 35,754,638 Unassigned 32,445,006 ----32,445,006 Total Fund Balances 33,610,916 13,246,433 4,863,265 29,787,340 5,958,819 87,466,773 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES $50,510,040 $46,531,867 $7,604,652 $29,807,625 $6,505,362 $140,959,546 See accompanying notes to financial statements. 23 VILLAGE OF GLENVIEW RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION As of December 31, 2020 Total Fund Balances - Governmental Funds $87,466,773 Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental funds are not financial resources and, therefore, are not reported in the funds. See Note III C.245,068,154 Deferred charge on refunding of debt is not considered to represent a financial resource and, therefore, is not reported in the funds.600,907 Some receivables that are not currently available are reported as unavailable revenues in the fund financial statements but are recognized as revenue when earned in the government-wide statements.282 Deferred outflows of resources related to pensions do not relate to current financial resources and are not reported in the governmental funds.13,306,609 Deferred inflows of resources related to pensions do not relate to current financial resources and are not reported in the governmental funds.(18,107,676) Deferred outflows of resources related to OPEB do not relate to current financial resources and are not reported in the governmental funds.3,038,258 Deferred inflows of resources related to OPEB do not relate to current financial resources and are not reported in the governmental funds.(1,442,540) Internal service funds are reported in the statement of net position as governmental activities.20,170,079 Some liabilities, including long-term debt, are not due and payable in the current period and therefore, are not reported in the funds. General obligation bonds payable, net of unamortized items (20,331,496) Loan payable (255,889) Total OPEB liability (12,397,598) Compensated absences (1,526,543) Accrued interest (59,657) Net pension liability (73,722,473) NET POSITION OF GOVERNMENTAL ACTIVITIES $241,807,190 See accompanying notes to financial statements. 24 VILLAGE OF GLENVIEW STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS For the Year Ended December 31, 2020 General Fund Special Tax Allocation Fund Capital Projects Fund Village Permanent Fund Nonmajor Governmental Funds Totals REVENUES Property Taxes $12,373,133 $38,205,898 $-$-$2,265,201 $52,844,232 Other Taxes 13,865,655 ----13,865,655Licenses and Permits 2,114,688 ----2,114,688 Fines, Forfeitures and Penalties 93,008 ----93,008 Charges for Services 12,505,652 204,360 ---12,710,012 Intergovernmental 30,795,110 142,212 144,522 -3,627,855 34,709,699 Investment Income 386,893 315,075 9,336 272,082 56,914 1,040,300 Miscellaneous --159,014 -3,284 162,298 Total Revenues 72,134,139 38,867,545 312,872 272,082 5,953,254 117,539,892 EXPENDITURES Current General Government 18,131,771 21,922,671 ---40,054,442 Public Safety 34,319,424 ---182,623 34,502,047Public Works 7,552,623 ----7,552,623 Development 3,306,974 ---176,406 3,483,380 Capital Outlay --8,880,603 -4,276,053 13,156,656 Debt Service Principal -6,030,000 24,371 -2,360,000 8,414,371 Interest and Fiscal Charges -531,247 --553,863 1,085,110 Total Expenditures 63,310,792 28,483,918 8,904,974 -7,548,945 108,248,629 Excess (Deficiency) of Revenues over Expenditures 8,823,347 10,383,627 (8,592,102)272,082 (1,595,691)9,291,263 OTHER FINANCING SOURCES (USES) Transfers In 575,000 -11,599,807 -2,680,749 14,855,556 Transfers Out (12,260,749)-(420,000)-(1,026,783)(13,707,532) Total Other Financing Sources (Uses)(11,685,749)-11,179,807 -1,653,966 1,148,024 Net Change in Fund Balances (2,862,402)10,383,627 2,587,705 272,082 58,275 10,439,287 FUND BALANCES - Beginning of Year 36,473,318 2,862,806 2,275,560 29,515,258 5,900,544 77,027,486 FUND BALANCES - END OF YEAR $33,610,916 $13,246,433 $4,863,265 $29,787,340 $5,958,819 $87,466,773 See accompanying notes to financial statements. 25 VILLAGE OF GLENVIEW RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2020 Net change in fund balances - total governmental funds $10,439,287 Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However, in the statement of net position the cost of these assets is capitalized and they are depreciated over their estimated useful lives and reported as depreciation expense in the statement of activities. Some items reported as operating expenditures in the fund financial statements but are capitalized in the government-wide statements 13,044,916 Depreciation is reported in the government-wide financial statements (7,493,220) Net book value of assets retired (13,020) Debt issued provides current financial resources to governmental funds, but issuing debt increases long-term liabilities in the statement of net position. Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long- term liabilities in the statement of net position. Principal repaid 8,414,371 Governmental funds report debt premiums and discounts as other financing sources (uses) or expenditures. However, in the statement of net position, these are reported as additions to or deductions from long-term debt. These are allocated over the period the debt is outstanding in the statement of activities and are reported as interest expense. Amortization of premium/discount 331,653 Some expenses in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds. Compensated absences (5,065) Accrued interest on debt 22,049 Amortization of deferred charge on refunding (243,325) Net pension liability 14,064,868 Deferred outflows of resources related to pensions (4,155,329) Deferred inflows of resources related to pensions (8,304,371) Deferred outflows of resources related to OPEB 962,473 Deferred inflows of resources related to OPEB (1,195,475) Total OPEB liability (71,859) Internal service funds are used by management to charge the cost of vehicles and equipment management and self insurance costs to individual funds. The change in net position of the internal service fund reported with governmental activities.2,398,517 CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 28,196,470 See accompanying notes to financial statements. 26 VILLAGE OF GLENVIEW STATEMENT OF NET POSITION PROPRIETARY FUNDS As of December 31, 2020 Business-type Activities - Enterprise Funds Glenview Water Fund Glenview Sanitary Sewer Fund Nonmajor Enterprise Funds Totals Governmental Activities - Internal Service Funds ASSETS Current Assets Cash and Cash Equivalents $6,726,730 $1,745,064 $2,437,928 $10,909,722 $16,779,459 Investments 722,200 246,000 -968,200 3,147,273 Receivables Accounts, Net 2,606,758 655,452 1,011,121 4,273,331 20,982 Accrued Interest 25,519 6,422 -31,941 79,016 Other ----60,000 Prepaid Items ----1,217,188 Inventories 49,740 --49,740 429,221 Due from Other Funds 239 --239 - Deposits ----581,187 Total Current Assets 10,131,186 2,652,938 3,449,049 16,233,173 22,314,326 Noncurrent Assets Capital Assets Capital Assets not Being Depreciated 67,851 -500,000 567,851 - Capital Assets Being Depreciated 68,669,148 27,225,305 5,515,846 101,410,299 - Less: Accumulated Depreciation (27,057,832)(8,646,749)(2,972,419)(38,677,000)- Total Noncurrent Assets 41,679,167 18,578,556 3,043,427 63,301,150 - Total Assets 51,810,353 21,231,494 6,492,476 79,534,323 22,314,326 DEFERRED OUTFLOWS OF RESOURCES Deferred Outflows Related to Pensions 642,391 104,681 -747,072 - Deferred Outflows Related to OPEB 63,045 11,302 4,049 78,396 - Total Deferred Outflows of Resources 705,436 115,983 4,049 825,468 - See accompanying notes to financial statements. 27 VILLAGE OF GLENVIEW STATEMENT OF NET POSITION PROPRIETARY FUNDS As of December 31, 2020 Business-type Activities - Enterprise Funds Glenview Water Fund Glenview Sanitary Sewer Fund Nonmajor Enterprise Funds Totals Governmental Activities - Internal Service Funds LIABILITIES Current Liabilities Accounts Payable $1,277,013 $188,559 $349,779 $1,815,351 $801,327 Accrued Payroll 35,463 6,107 2,372 43,942 8,835 Accrued Interest 6,868 --6,868 - Accrued Expenses 131,055 6,091 102,814 239,960 110,953 Refundable Deposits 19,675 --19,675 - Due to Other Funds -239 -239 5,662 Claims Payable ----478,252 Unearned Revenues ----21,839 Current Portion of Long-Term Liabilities 1,059,465 5,496 2,292 1,067,253 - Total Current Liabilities 2,529,539 206,492 457,257 3,193,288 1,426,868 Noncurrent Liabilities Long-Term Debt Claims Payable ----717,379 Long-Term Liabilities Due in More Than One Year 4,673,664 224,341 25,690 4,923,695 - Total Noncurrent Liabilities 4,673,664 224,341 25,690 4,923,695 717,379 Total Liabilities 7,203,203 430,833 482,947 8,116,983 2,144,247 DEFERRED INFLOWS OF RESOURCES Deferred Inflows Related to Pensions 660,399 136,357 -796,756 - Deferred Inflows Related to OPEB 29,933 5,366 1,922 37,221 - Total Deferred Inflows of Resources 690,332 141,723 1,922 833,977 - NET POSITION Net Investment in Capital Assets 37,100,334 18,578,556 3,043,427 58,722,317 - Unrestricted 7,521,920 2,196,365 2,968,229 12,686,514 20,170,079 TOTAL NET POSITION $44,622,254 $20,774,921 $6,011,656 $71,408,831 $20,170,079 See accompanying notes to financial statements. 28 VILLAGE OF GLENVIEW STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION PROPRIETARY FUNDS For the Year Ended December 31, 2020 Business-type Activities - Enterprise Funds Glenview Water Fund Glenview Sanitary Sewer Fund Nonmajor Enterprise Funds Totals Governmental Activities - Internal Service Funds OPERATING REVENUES Charges for Services $15,641,585 $2,477,241 $4,558,292 $22,677,118 $11,806,483 Miscellaneous 233,451 73,072 3,380 309,903 226,061 Total Operating Revenues 15,875,036 2,550,313 4,561,672 22,987,021 12,032,544 OPERATING EXPENSES Insurance Services ----7,166,272 Parking Services --594,066 594,066 - Water Services 11,517,446 -2,273,922 13,791,368 - Sewerage Services -1,473,685 -1,473,685 - Capital Asset Repair and Replacement ----2,348,105 Depreciation and Amortization 1,428,563 526,345 155,208 2,110,116 - Total Operating Expenses 12,946,009 2,000,030 3,023,196 17,969,235 9,514,377 Operating Income 2,929,027 550,283 1,538,476 5,017,786 2,518,167 NONOPERATING REVENUES (EXPENSES) Other Income -14,257 -14,257 - Investment Income 60,789 13,100 10,162 84,051 1,148,859 Gain on Sale of Capital Assets ----91,714 Reassignment of Capital Assets ----(1,110,223) Interest and Fiscal Charges (95,146)(10,816)-(105,962)- Total Nonoperating Revenues (Expenses)(34,357)16,541 10,162 (7,654)130,350 Income Before Contributions and Transfers 2,894,670 566,824 1,548,638 5,010,132 2,648,517 CONTRIBUTIONS AND TRANSFERS Transfers In 336,337 --336,337 - Transfers Out -(84,387)(1,149,974)(1,234,361)(250,000) Total Contributions and Transfers 336,337 (84,387)(1,149,974)(898,024)(250,000) Change in Net Position 3,231,007 482,437 398,664 4,112,108 2,398,517 NET POSITION - Beginning of Year 41,391,247 20,292,484 5,612,992 67,296,723 17,771,562 NET POSITION - END OF YEAR $44,622,254 $20,774,921 $6,011,656 $71,408,831 $20,170,079 See accompanying notes to financial statements. 29 VILLAGE OF GLENVIEW STATEMENT OF CASH FLOWS PROPRIETARY FUNDS For the Year Ended December 31, 2020 Business-type Activities - Enterprise Funds Glenview Water Fund Glenview Sanitary Sewer Fund Nonmajor Enterprise Funds Totals Governmental Activities - Internal Service Funds CASH FLOWS FROM OPERATING ACTIVITIES Received from Customers and Users $15,525,006 $2,457,287 $4,193,036 $22,175,329 $12,499,688 Paid to Suppliers for Goods and Services (8,913,750)(861,785)(2,572,080)(12,347,615)(9,807,814) Paid to Employees for Services (2,550,291)(528,561)(211,776)(3,290,628)(1,000,500) Received from Other Sources 38,227 87,329 -125,556 - Net Cash Flows From Operating Activities 4,099,192 1,154,270 1,409,180 6,662,642 1,691,374 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income 92,716 7,179 34,893 134,788 1,197,654 Sale of Investments 2,956,187 -1,240,961 4,197,148 9,110,859 Purchase of Investments ----(1,217,200) Net Cash Flows From Investing Activities 3,048,903 7,179 1,275,854 4,331,936 9,091,313 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers In 336,337 --336,337 - Transfers Out -(84,387)(1,149,974)(1,234,361)(250,000) Net Cash Flows From Noncapital Financing Activities 336,337 (84,387)(1,149,974)(898,024)(250,000) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proceeds from Sale of Capital Assets ----91,714 Debt Retired (843,866)--(843,866)- Interest Paid (97,341)(10,816)-(108,157)- Acquisition and Construction of Capital Assets (1,818,771)(441,744)(177,104)(2,437,619)(1,194,534) Net Cash Flows From Capital and Related Financing Activities (2,759,978)(452,560)(177,104)(3,389,642)(1,102,820) Net Change in Cash and Cash Equivalents 4,724,454 624,502 1,357,956 6,706,912 9,429,867 CASH AND CASH EQUIVALENTS - Beginning of Year 2,002,276 1,120,562 1,079,972 4,202,810 7,349,592 CASH AND CASH EQUIVALENTS - END OF YEAR $6,726,730 $1,745,064 $2,437,928 $10,909,722 $16,779,459 See accompanying notes to financial statements. 30 VILLAGE OF GLENVIEW STATEMENT OF CASH FLOWS PROPRIETARY FUNDS For the Year Ended December 31, 2020 Business-type Activities - Enterprise Funds Glenview Water Fund Glenview Sanitary Sewer Fund Nonmajor Enterprise Funds Totals Governmental Activities - Internal Service Funds RECONCILIATION OF OPERATING INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income $2,929,027 $550,283 $1,538,476 $5,017,786 $2,518,167 Adjustments to Reconcile Operating Income to Net Cash Flows From Operating Activities Depreciation 1,428,563 526,345 155,208 2,110,116 - Other Income -14,257 -14,257 - Changes in assets and liabilities Accounts Receivable (301,451)(16,109)(368,641)(686,201)96,265 Inventory (12,427)--(12,427)(8,253) Due from Other Funds (250)290 5 45 - Deposits ----374,051 Prepaid Items ----(1,083,363) Accounts Payable 138,162 86,725 (16,395)208,492 380,266 Customer Deposits (1,475)--(1,475)- Claims Payable ----(301,874) Accrued Salaries (52,424)(11,958)(5,750)(70,132)(15,797) Compensated absences 17,131 1,879 1,638 20,648 - Accrued Expenses -(1,635)102,151 100,516 (262,297) Due to Other Funds ----(2,619) Unearned Revenue ----(3,172) Deferred Outflows Due to Pensions 840,338 166,266 -1,006,604 - Deferred Inflows Due to Pensions 348,821 74,711 -423,532 - Net Pension Liability (1,273,553)(244,849)-(1,518,402)- Total OPEB Liability 39,541 8,405 2,540 50,486 - Deferred Outflows Due to OPEB (26,380)(4,950)(1,694)(33,024)- Deferred Inflows Due to OPEB 25,569 4,610 1,642 31,821 - NET CASH FLOWS FROM OPERATING ACTIVITIES $4,099,192 $1,154,270 $1,409,180 $6,662,642 $1,691,374 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES None See accompanying notes to financial statements. 31 VILLAGE OF GLENVIEW STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS As of December 31, 2020 Pension Trust Funds Custodial Funds ASSETS Cash and Cash Equivalents $6,775,944 $1,362,144 Investments U.S. Treasuries 9,127,180 - U.S. Agencies 30,475,355 - Mutual Funds 121,411,255 - Corporate Obligations 24,243,147 - Municipal Obligations 5,565,459 - Stocks 588,742 - Negotiable Certificates of Deposit 1,086,446 - Receivables Taxes -325,866 Accrued Interest 394,346 - Due from Primary Government 21,328 - Prepaid Items 14,819 - Total Assets 199,704,021 1,688,010 LIABILITIES Accrued Expenses 69,560 1,037 Due to Members -1,179,719 Due to Primary Government -1,067 Advances from Primary Government -310,626 Total Liabilities 69,560 1,492,449 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for Future Periods -325,866 Total Deferred Inflows of Resources -325,866 NET POSITION Restricted for Pension Benefits 199,634,461 - Unrestricted (Deficit)-(130,305) TOTAL NET POSITION $199,634,461 $(130,305) See accompanying notes to financial statements. 32 VILLAGE OF GLENVIEW STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FIDUCIARY FUNDS For the Year Ended December 31, 2020 Pension Trust Funds Custodial Funds ADDITIONS Contributions Employer $8,607,429 $- Participant 2,323,805 - Total Contributions 10,931,234 - Investment income Net Appreciation in Fair Value of Investments 17,696,379 - Interest Income 5,285,140 12,560 Total Investment Income 22,981,519 12,560 Less Investment Expense 281,200 - Net Investment Income 22,700,319 12,560 Property Taxes -367,816 911 Surcharge -4,332,390 Total Additions 33,631,553 4,712,766 DEDUCTIONS Retirement Pensions 11,036,295 - Widow Pensions 804,671 - Disability Pensions 676,815 - Children's Pensions 59,413 - Contribution Refunds 80,565 - Administration 180,338 - Remittance of Principal to Bondholders -164,455 Remittance of Interest to Bondholders -79,299 Distributions to Primary Government -1,075,785 Distributions to Members -3,266,501 Miscellaneous -114,337 Total Deductions 12,838,097 4,700,377 Change in Fiduciary Net Position 20,793,456 12,389 NET POSITION - Beginning of Year 178,841,005 (142,694) NET POSITION - END OF YEAR $199,634,461 $(130,305) See accompanying notes to financial statements. 33 VILLAGE OF GLENVIEW INDEX TO NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE Page I Summary of Significant Accounting Policies 35 A.Reporting Entity 35 B.Government-Wide and Fund Financial Statements 37 C.Measurement Focus, Basis of Accounting, and Financial Statement Presentation 41 D.Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources, and Net Position or Equity 42 1.Deposits and Investments 42 2.Receivables 46 3.Inventories and Prepaid Items 47 4.Capital Assets 47 5.Deferred Outflows of Resources 48 6.Compensated Absences 49 7.Long-Term Obligations 49 8.Deferred Inflows of Resources 49 9. Equity Classifications 50 II Stewardship, Compliance, and Accountability 52 A.Excess Expenditures/Expenses/Deductions Over Budget 52 B.Deficit Balances 52 III Detailed Notes on All Funds 53 A.Deposits and Investments 53 B.Receivables 58 C.Capital Assets 59 D.Interfund Receivables/Payables, Advances and Transfers 61 E.Long-Term Obligations 63 F.Lease Disclosures 67 G.Component Unit 67 IV Other Information 72 A.Employees' Retirement System 72 B.Risk Management 88 C.Commitments and Contingencies 90 D.Joint Ventures 90 E.Other Postemployment Benefits 91 F.Subsequent Event 95 G.Tax Abatement 95 H.Effect of New Accounting Standards on Current-Period Financial Statements 96 See accompanying notes to financial statements. 34 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Village of Glenview, Illinois (the Village) was incorporated in 1899. The Village is a home-rule municipality, under the 1970 Illinois Constitution, located in Cook County, Illinois. The Village operates under a Council-Manager form of government and provides the following services as authorized by its charter: public safety (police and fire protection), water utility, sanitary sewer utility, stormwater management, street maintenance, community development, and general administrative services. The accounting policies of the Village of Glenview, Illinois conform to accounting principles generally accepted in the United States of America as applicable to governmental units. The accepted standard- setting body for establishing governmental accounting and financial reporting principles is the Governmental Accounting Standards Board (GASB). A.REPORTING ENTITY This report includes all of the funds of the Village. The reporting entity for the Village consists of the primary government and its component unit. Component units are legally separate organizations for which the primary government is financially accountable or other organizations for which the nature and significance of their relationship with the primary government are such that their exclusion would cause the reporting entity's financial statements to be misleading. The primary government is financially accountable if (1) it appoints a voting majority of the organization's governing body and it is able to impose its will on that organization, (2) it appoints a voting majority of the organization's governing body and there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government, (3) the organization is fiscally dependent on and there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. Certain legally separate, tax exempt organizations should also be reported as a component unit if all of the following criteria are met: (1) the economic resources received or held by the separate organization are entirely or almost entirely for the direct benefit of the primary government, its component units, or its constituents; (2) the primary government or its component units, is entitled to, or has the ability to access, a majority of the economic resources received or held by the separate organization; and (3) the economic resources received or held by an individual organization that the primary government, or its component units, is entitled to, or has the ability to otherwise access, are significant to the primary government. Component units are reported using one of three methods: discrete presentation, blended, or fiduciary. Generally, component units should be discretely presented in a separate column in the financial statements. A component unit should be reported as part of the primary government using the blending method if it meets any one of the following criteria: (1) the primary government and the component unit have substantively the same governing body and a financial benefit or burden relationship exists, (2) the primary government and the component unit have substantively the same governing body and management of the primary government has operational responsibility for the component unit, (3) the component unit serves or benefits, exclusively or almost exclusively, the primary government rather than its citizens, or (4) the total debt of the component unit will be paid entirely or almost entirely from resources of the primary government. 35 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Discretely Presented Component Unit Glenview Library The government-wide financial statements include the Glenview Library (Library) as a component unit. The Library is a legally separate organization. The board of the Library is elected by the the residents of the Village of Glenview. The Village exercises substantive approval over the Library's budget and tax levy. Additionally, the Library may not issue bonded debt without the approval of the Village and the Village is liable/obligated for the bond issue debt of the Library. Based on this relationship, the Library's is considered a discretely presented component unit. The information presented is for the fiscal year ended December 31, 2020. The Library does not issue separate financial statements. Fiduciary Component Units The Police Pension Employees Retirement System (PPERS) is established for the Village's police employees. PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the Village’s President, one pension beneficiary elected by the membership, and two police employees elected by the membership constitute the pension board. The Village and the PPERS participants are obligated to fund all PPERS costs based upon actuarial valuations. A municipality is considered to have a financial burden if it is legally obligated or has otherwise assumed the obligation to make contributions to the pension plan. The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial assumptions used in the determination of contribution levels. PPERS is reported as a fiduciary component unit pension trust fund and the data for the pension is included in the government's fiduciary fund financial statements as a pension trust fund. No separate annual financial report is issued for the PPERS. The Firefighters’ Pension Employees Retirement System (FPERS) is established for the Village's firefighters. FPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the Village’s President, one pension beneficiary elected by the membership; and two fire employees elected by the membership constitute the pension board. The Village and the FPERS participants are obligated to fund all FPERS costs based upon actuarial valuations. A municipality is considered to have a financial burden if it is legally obligated or has otherwise assumed the obligation to make contributions to the pension plan. The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial assumptions used in the determination of contribution levels. FPERS is reported as a fiduciary component unit and the data for the pension is included in the government's fiduciary fund financial statements as a pension trust fund. No separate annual financial report is issued for the FPERS. 36 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS In March 2018, the GASB issued statement No. 88 - Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. This Statement defines debt for purposes of disclosure in notes to financial statements and establishes additional financial statement note disclosure requirements related to debt obligations of governments, including direct borrowings and direct placements. This standard was implemented January 1, 2020. Government-Wide Financial Statements The statement of net position and statement of activities display information about the reporting government as a whole. They include all funds of the reporting entity except for fiduciary funds.The statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods or services. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. The Village does not allocate indirect expenses to functions in the statement of activities. Program revenues include 1) charges to customers or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not included among program revenues are reported as general revenues. Internally dedicated resources are reported as general revenues rather than as program revenues. 37 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.) Fund Financial Statements Financial statements of the Village are organized into funds, each of which is considered to be a separate accounting entity. Each fund is accounted for by providing a separate set of self-balancing accounts, which constitute its assets, deferred outflows of resources, liabilities, deferred inflows of resources, net position/fund balance, revenues, and expenditures/expenses. Funds are organized as major funds or nonmajor funds within the governmental and proprietary statements. An emphasis is placed on major funds within the governmental and proprietary categories. A fund is considered major if it is the primary operating fund of the Village or meets the following criteria: a. Total assets/deferred outflows of resources, liabilities/deferred inflows of resources, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10% of the corresponding total for all funds of that category or type, and b. The same element of the individual governmental or enterprise fund that met the 10% test is at least 5% of the corresponding total for all governmental and enterprise funds combined. c. In addition, any other governmental or enterprise fund that the Village believes is particularly important to financial statement users may be reported as a major fund. Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. The Village reports the following major governmental funds: General Fund - accounts for the Village's primary operating activities. It is used to account for and report all financial resources except those accounted for and reported in another fund. Special Tax Allocation Fund - used to account for the incremental property tax revenue that is generated through the growth of the assessed valuation at The Glen, (formerly referred to as Glenview Naval Air Station) and the "Make-Whole" payments to core jurisdictions within the boundaries of the Tax Increment District. The core jurisdictions consist of: the Village of Glenview, School District 34, High School District 225, the Glenview Park District, and the Glenview Public Library, a component unit of the Village. This fund also accounts for the service and incentive fees within the Tax Increment District. Village Permanent Fund - used to accumulate and account for a specific portion of the land sales proceeds of The Glen. Twenty percent of the land sale revenues are assigned for capital and economic development expenditures throughout the Village (outside of the Glen). Additionally, Permanent Fund assets can be loaned for short-term liquidity to other Village funds as a result of exhaustion of cash revenues. 38 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.) Fund Financial Statements (cont.) The Village reports the following major governmental funds: (cont.) Capital Projects Fund - used to account for revenues and expenditures involved with improvements throughout the Village which are not included in other capital projects funds. The Village reports the following major enterprise funds: Glenview Water Fund - accounts for the provision of water services to the property owners in the Village. All activities necessary to provide such services are accounted for in this fund including, but not limited to, administration, operations, maintenance, financing, and related debt service, and billing and collections. Glenview Sanitary Sewer Fund - accounts for the provision of sanitary sewer services to property owners in both incorporated and unincorporated areas of the Village. All activities necessary to provide such services are accounted for in this fund including, but not limited to, administration, transmissions, maintenance, financing and related debt service, and billing and collections. Treatment is performed by another agency. The Village reports the following nonmajor governmental and enterprise funds: Special Revenue Funds - used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditures for specified purposes (other than debt service or capital projects). Motor Fuel Tax Fund Foreign Fire Insurance Fund Police Department Special Account Fund Waukegan Golf TIF Fund Debt Service Fund - used to account for and report financial resources that are restricted, committed, or assigned to expenditure for the payment of general long-term debt principal, interest, and related costs. Corporate Purpose Bonds Fund Capital Projects Fund - used to account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets. Glen Capital Projects Fund 39 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.) Fund Financial Statements (cont.) The Village reports the following non-major governmental and enterprise funds: (cont.) Enterprise Funds - used to account for and report any activity for which a fee is charged to external uses for goods or services, and must be used for activities which meet certain debt or cost recovery criteria. Wholesale Water Fund Commuter Parking Lot Fund In addition, the Village reports the following fund types: Internal Service Funds - used to account for and report the financing of goods or services provided by one department or agency to other departments or agencies of the Village, or to other governmental units, on a cost-reimbursement basis. Capital Equipment Replacement Fund Municipal Equipment Repair Fund Insurance and Risk Fund Facilities Repair and Replacement Fund Pension Trust Funds - used to account for and report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans. Police Pension Fund Firefighters' Pension Fund Custodial Funds - used to account for and report assets controlled by the Village and the assets are for the benefit of individuals, private organizations, and/or other governmental units. Special Service Area (SSA) Bond Fund Joint ETSB Fund 40 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION Government-Wide Financial Statements The government-wide statement of net position and statement of activities are reported using the economic resources measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. Property taxes are recognized as revenues in the year for which they are levied. Taxes receivable for the following year are recorded as receivables and deferred inflows. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider are met. Special assessments are recorded as revenue when earned. Unbilled receivables are recorded as revenues when services are provided. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Fund Financial Statements Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recorded when they are both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the Village considers revenues to be available if they are collected within 90 days of the end of the current fiscal period with the exception of property tax revenues, which are considered available if they are collected within 60 days. Expenditures are recorded when the related fund liability is incurred, except for unmatured interest on long-term debt, claims, judgments, compensated absences, and pension expenditures, which are recorded as a fund liability when expected to be paid with expendable available financial resources. Property taxes are recorded in the year levied as receivables and deferred inflows. They are recognized as revenues in the succeeding year when services financed by the levy are being provided. Intergovernmental aids and grants are recognized as revenues in the period the Village is entitled the resources and the amounts are available. Amounts owed to the Village which are not available are recorded as receivables and unavailable revenues. Amounts received before eligibility requirements (excluding time requirements) are met are recorded as liabilities. Amounts received in advance of meeting time requirements are recorded as deferred inflows. Revenues susceptible to accrual include property taxes, miscellaneous taxes, public charges for services, special assessments and interest. Other general revenues such as fines and forfeitures, inspection fees, recreation fees, and miscellaneous revenues are recognized when received in cash or when measurable and available under the criteria described above. Proprietary and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as described previously in this note. 41 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION (cont.) Fund Financial Statements (cont.) The proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the proprietary funds are charges to customers for sales and services. Special assessments are recorded as receivables and contribution revenue when levied. Operating expenses for proprietary funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. All Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows of resources, liabilities, and deferred inflows of resources and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates. D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY 1.Deposits and Investments For purposes of the statement of cash flows, the Village considers all highly liquid investments with an initial maturity of three months or less when acquired to be cash equivalents. The Village, Police Pension Fund, and Firefighters' Pension Fund have adopted investment policies. The policies follow the state statute for allowable investments. The Village maintains a cash and investment pool that is available for use by most funds. Each fund's portion of this pool is displayed on the balance sheet/statement of net position as "cash and cash equivalents" and "investments." In addition, investments are separately held by several of the Village's funds. The Village's investment policy and state statutes allow the Village to invest in the following: a)Interest-bearing accounts of banks and savings and loan associations insured by the Federal Deposit Insurance Corporation. b)Obligations of the U.S. Treasury and U.S. agencies. - Insured accounts of an Illinois credit union chartered under United States or Illinois law. c)Money market mutual funds with portfolios of securities issued or guaranteed by the United States or agreements to repurchase these same types of obligations. d)Repurchase agreements which meet instrument transaction requirements of Illinois law. e)Short-term obligations of U.S. corporations rated in the three highest classifications by at least two standard rating agencies. f)The Illinois Funds. g)Illinois Metropolitan Investment Fund. 42 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 1.Deposits and Investments (cont.) The Village's investment policy limits the Village from investing in any financial institution in which the Village's funds on deposit are in excess of 75% of the institution's capital stock and surplus. The deposits and investments of the Police Pension Fund and the Firefighters' Pension Fund are held separately from each other and from those of other Village funds. In addition to the aforementioned investments, these pension funds are also permitted to invest in the following instruments: a)Bonds issued by any county, city, township, village, incorporated town, municipal corporation, or school district in Illinois. b)Direct obligations of the State of Israel. c)Separate accounts of Illinois-licensed insurance companies. d)Common and preferred stock. The Police Pension Fund’s investment policy establishes the following target allocation across asset classes: Asset Class Target Allocation Long-Term Expected Real Rate of Return Cash 1.40%0.90% US Large Cap 31.30%6.00% US Mid Cap 3.90%6.40% US Small Cap 6.30%6.10% International Equities 15.50%4.90% Emerging and Frontier Markets Equity 1.40%6.50% Alternatives 5.60%4.10% Illinois Compiled Statues (ILCS) limit the Police Pension Fund's investments in equities, mutual funds and variable annuities to 65%. Securities in any one company should not exceed 5% of the total fund. The long-term expected rate of return on pension plan investments was determined using a building- block method. The best estimate of future real rates of return are developed for each of the major asset classes. Future real rates of return are weighted based on the target asset allocation as adopted by the Board within the investment policy. Expected inflation is added back in. Adjustment is made to reflect geometric returns. The expected long-term expected arithmetic real rates of return by asset class are listed in the table above. 43 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 1.Deposits and Investments (cont.) The Firefighters' Pension Fund’s investment policy, in accordance with Illinois Statutes, establishes the following target allocation across asset classes: Asset Class Target Allocation Long-Term Expected Rate of Return Long-Term Inflation Expectation Long-Term Expected Real Rate of Return Large Cap Domestic Equity 42.00%8.00%2.20%5.80% Small Cap Domestic Equity 12.00%9.80%2.20%7.60% International Equity 6.00%9.30%2.20%7.10% Fixed Income 40.00%3.60%2.20%1.40% Illinois Compiled Statues (ILCS) limit the Firefighters' Pension Fund's investments in equities, mutual funds and variable annuities to 65%. The long-term expected rate of return on pension plan investments was determined using a building- block method. The best estimate of future real rates of return are developed for each of the major asset classes. Future real rates of return are weighted based on the target asset allocation as adopted by the Board within the investment policy. Expected inflation is added back in. Adjustment is made to reflect geometric returns. The expected long-term expected arithmetic real rates of return by asset class are listed in the table above. Interest Rate Risk In accordance with its investment policy, the Village limits its exposure to interest rate risk by structuring the portfolio so that securities or other allowable investments mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities or other allowable investments on the open market prior to maturity and by investing operating funds primarily in shorter term securities or other allowable investments. The policy was put in place to provide liquidity for short and long-term cash flow needs while providing a reasonable rate of return based on the current market. In accordance with their investment policies, the Police Pension Fund and Firefighters' Pension Fund limit their exposure to interest rate risk by structuring the portfolios to provide liquidity for short-term and long- term cash flow needs while providing a reasonable rate of return based on the current market. 44 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 1.Deposits and Investments (cont.) Credit Risk The Village limits its exposure to credit risk, by investing mainly in external investment pools. The Police Pension Fund's and Firefighters' Pension Fund's general investment policies follow the prudent person rule subject to the specific restrictions of the Illinois Pension Code and the Police Pension Fund's and Firefighters' Pension Fund's asset allocation policy. Under the prudent person rule, investments shall be made with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the investment of a fund or like character and with like aims. Concentration of Credit Risk It is the policy of the Village to diversify its investment portfolio. Investments shall be diversified to eliminate the risk of loss resulting in an overconcentration in a security, maturity, issuer, or class of securities. The Police Pension Fund's and Firefighters' Pension Fund's investment policies require diversification of investment to avoid unreasonable risk. Custodial Credit Risk - Deposits The Village’s investment policy requires that deposits that exceed the amount insured by the FDIC insurance protection be secured by some form of collateral at the rate of 110% of such deposits by U.S. Government Securities, obligations of Federal instrumentalities, obligations of the State of Illinois, or general obligation municipal bonds rated “AA” or better. Custodial Credit Risk - Investments To limit its exposure, the Village's investment policy requires all investments to be limited to the safest types of securities invested with pre-qualified institutions, broker/dealers, intermediaries, and advisors, soundly diversified and held by a third-party custodian. The Police Pension Fund’s investment policy requires all securities that are exposed to custodial credit risk to be held by a third-party custodian. The Firefighters’ Pension Fund’s investment policy requires all investments to be limited to the safest types of securities invested with pre-qualified institutions, broker/dealers, intermediaries, and advisors, soundly diversified and held by a third-party custodian. 45 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 1.Deposits and Investments (cont.) Investments are stated at fair value, which is the amount at which an investment could be exchanged in a current transaction between willing parties. Fair values are based on methods and inputs as outlined in Note III. A. Short-term investments are reported at amortized cost, which approximates fair value. Securities traded on a national or international exchange are valued at the last reported sales price at current exchange rates. Fair value for the majority of fixed income securities is determined by using quoted market prices by independent pricing services. Illinois Funds is an investment pool managed by the State of Illinois, Office of the Treasurer, which allows governments within the State to pool their funds for investment purposes. Illinois Funds is not registered with the SEC as an investment company, but does operate in a manner consistent with Rule 2a7 of the Investment Company Act of 1940. Investments in Illinois Funds are valued at Illinois Fund’s share price, the price for which the investments could be sold. See Note III. A. for further information. 2.Receivables Property taxes for levy year 2020 attaches as an enforceable lien on January 1, 2020, on property values assessed as of the same date. Taxes are levied by December following the lien date (by passage of a Tax Levy Ordinance). The 2020 tax levy, which attached as an enforceable lien on the property as of January 1, 2020, has been recorded as a receivable as of December 31, 2020, as the tax was levied by the Village on December 8, 2020, and therefore, the levy is measurable at December 31, 2020. Tax bills for levy year 2020 are prepared by Cook County and issued on or about February 1, 2021 and July 1, 2021, and are payable in two installments, on or about March 1, 2021 and August 1, 2021 or within 30 days of the tax bills being issued. The county collects such taxes and remits them periodically. The 2020 property tax levy is recognized as a receivable and deferred inflows in fiscal 2020, net the allowance for uncollectible. As the taxes become available to finance current expenditures, they are recognized as revenues. At December 31, 2020, the property taxes receivable and related deferred inflows consisted of the estimated amount collectible from the 2020 levy. During the course of operations, transactions occur between individual funds that may result in amounts owed between funds. Short-term interfund loans are reported as "due to and from other funds." Long- term interfund loans (noncurrent portion) are reported as "advances from and to other funds." Interfund receivables and payables between funds within governmental activities are eliminated in the statement of net position. Any residual balances outstanding between the governmental activities and business-type activities are reported in the governmental-wide financial statements as internal balances. 46 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 2.Receivables (cont.) In the governmental fund financial statements, advances to other funds are offset equally by a nonspendable fund balance account which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation or by a restricted fund balance account, if the funds will ultimately be restricted when the advance is repaid. 3.Inventories and Prepaid Items Governmental fund inventories, if material, are recorded at cost based on the FIFO method using the consumption method of accounting. Proprietary fund inventories are generally used for construction and/or for operation and maintenance work. They are not for resale. They are valued at cost based on average cost, and charged to construction and/or operation and maintenance expense when used. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements using the consumption method. 4.Capital Assets Government-Wide Statements Capital assets, which include property, buildings, vehicles, equipment, and infrastructure assets (e.g. roads, bridges, and similar items). Capital assets are defined by the government as assets with an initial cost of more than $25,000, and an estimated useful life in excess of 1 year. Additionally, the Library reports its collection of books and materials as a capital asset. All capital assets are valued at historical cost, or estimated historical cost if actual amounts are unavailable. Donated capital assets and service concession arrangements are recorded at their acquisition value. Additions to and replacements of capital assets of business-type activities are recorded at original cost, which includes material, labor, overhead, and an allowance for the cost of funds used during construction when significant. For tax-exempt debt, the amount of interest capitalized equals the interest expense incurred during construction netted against any interest revenue from temporary investment of borrowed fund proceeds. No interest was capitalized during the current year. The cost of renewals and betterments relating to retirement units is added to plant accounts. The cost of property replaced, retired or otherwise disposed of, is deducted from plant accounts and, generally, together with removal costs less salvage, is charged to accumulated depreciation. 47 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 4.Capital Assets (cont.) Government-Wide Statements (cont.) Depreciation and amortization of all exhaustible capital assets is recorded as an allocated expense in the statement of activities, with accumulated depreciation and amortization reflected in the statement of net position. Depreciation and amortization is provided over the assets' estimated useful lives using the straight-line method. The range of estimated useful lives by type of asset is as follows: Land improvements 25 -50 Years Bridges 50 Years Buildings and improvements 10 - 50 Years Infrastructure*25 - 60 Years Stormsewer system 40 Years Water mains 50 Years Sanitary mains 50 Years Machinery and equipment, and vehicles 4 - 30 Years Library books and materials 7 Years * Infrastructure includes roads, curbs, gutters, recreational paths, street lights, field lights, and traffic control signals. Fund Financial Statements In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for the same way as in the government-wide statements. 5. Deferred Outflows of Resources A deferred outflow of resources represents a consumption of net position/fund balance that applies to a future period and will not be recognized as an outflow of resources (expense/expenditure) until that future time. A deferred charge on refunding arises from the advance refunding of debt. The difference between the cost of the securities placed in trust for future payments of the refunded debt and the net carrying value of that debt is deferred and amortized as a component of interest expense over the shorter of the term of the refunding issue or the original term of the refunded debt. The unamortized amount is reported as a deferred outflow of resources in the government-wide and proprietary fund financial statements. 48 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 6.Compensated Absences Compensated absences include accumulated vacation and compensatory time as employees are not paid for sick time in the event of termination. Employees are required to use one-half of the vacation days they earn each year or they lose it and the remaining days can be used, saved, or carried over into the next year in the employee's vacation "bank". Employees may not accumulate more than 30 days' worth of unused vacation time in their vacation "bank". Employees are allowed to accumulate compensatory time to a maximum amount at year end specified in their union contracts or Village personnel manual as follows: Non-Union Personnel 80 hours Public Works Union 80 hours Dispatch Union 84 hours Police Union 84 hours Firefighter Union N/A 7.Long-Term Obligations All long-term obligations to be repaid from governmental and business-type resources are reported as liabilities in the government-wide statements. The long-term obligations consist primarily of bonds payable, notes payable, loans payable, accrued compensated absences, claims payable, net pension liabilities, and OPEB obligations. Long-term obligations for governmental funds are not reported as liabilities in the fund financial statements. The face value of debts (plus any premiums) are reported as other financing sources and payments of principal and interest are reported as expenditures. The accounting in proprietary funds is the same as it is in the government-wide statements. For the government-wide statements and proprietary fund statements, bond premiums and discounts are amortized over the life of the issue using the effective interest method. The balance at year end is shown as an increase or decrease in the liability section of the statement of net position. 8.Deferred Inflows of Resources A deferred inflow of resources represents an acquisition of net position/fund balance that applies to a future period and therefore will not be recognized as an inflow of resources (revenue) until that future time. 49 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 9. Equity Classifications Government-Wide Statements Equity is classified as net position and displayed in three components: a. Net investment in capital assets - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances (excluding unspent debt proceeds) of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. b. Restricted net position - Consists of net position with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or, 2) law through constitutional provisions or enabling legislation. c. Unrestricted net position - All other net positions that do not meet the definitions of "restricted" or "net investment in capital assets." The Village generally applies restricted resources first when an expense is incurred for purposes for which both restricted and unrestricted net resources are available. See additional information in the following section. Fund Statements Governmental fund balances are displayed as follows: a. Nonspendable - Includes fund balance amounts that cannot be spent either because they are not in spendable form or because legal or contractual requirements require them to be maintained intact. b. Restricted - Consists of fund balances with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or 2) law through constitutional provisions or enabling legislation. c. Committed - Includes fund balance amounts that are constrained for specific purposes that are internally imposed by the government through formal action of the highest level of decision making authority (the Board of Trustees). Fund balance amounts are committed through a formal action (resolution) of the Village Board. This formal action must occur prior to the end of the reporting period, but the amount of the commitment, which will be subject to the constraints, may be determined in the subsequent period. Any changes to the constraints imposed require the same formal action of the Village Board that originally created the commitment. 50 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 9. Equity Classifications Fund Statements (cont.) d. Assigned - Includes spendable fund balance amounts that are intended to be used for specific purposes that do not meet the criteria to be classified as restricted or committed. The Village Board has, by resolution, adopted a financial policy authorizing the Village Manager to assign amounts for a specific purpose. In governmental funds other than the General Fund, resources are assigned in accordance with the established fund purpose and approved budget or appropriation. Residual fund balances in these fund types that are not restricted or committed are reported as assigned. Assignments may take place after the end of the reporting period. e. Unassigned - Includes residual positive fund balance within the General Fund which has not been classified within the other above mentioned categories. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted, committed, or assigned for those purposes. Proprietary fund equity is classified the same as in the government-wide statements. In the General Fund, the Village considers restricted amounts to have been spent first when expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available, followed by committed amounts, and then assigned amounts. Unassigned amounts are used only after the other categories of fund balance have been fully utilized. In governmental funds other than the General Fund, the Village considers restricted amounts to have been spent last. When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available, the Village will first use assigned amounts, followed by committed amounts then restricted amounts. Fiduciary fund net position is classified as restricted for pension benefits and members on the statement of fiduciary net position. 51 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE II - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY A.EXCESS EXPENDITURES/EXPENSES/DEDUCTIONS OVER BUDGET Funds Budgeted Expenditures/ Expenses/ Deductions Actual Expenditures/ Expenses/ Deductions Excess Foreign Fire Insurance $113,630 $182,623 $68,993 Police Pension 5,126,004 5,679,829 553,825 Fire Pension 6,441,380 7,158,268 716,888 Library Debt Service 1,762,032 1,762,252 220 Library Special Reserve 882,195 1,076,855 194,660 B.DEFICIT BALANCES Generally accepted accounting principles require disclosure of individual funds that have deficit balances at year end. As of December 31, 2020, the following individual funds held a deficit balance: Fund Amount Reason Special Service Area (SSA) Bond $130,305 This deficit balance was anticipated as future property taxes will be levied to fund past construction projects relating to special assessments. 52 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS A.DEPOSITS AND INVESTMENTS The Village's, Police Pension Fund's, Firefighters' Pension Fund's and Custodial Funds' deposits and investments at year end were comprised of the following: Carrying Value Statement Balances Deposits $77,869,570 $77,474,967 Certificates of deposits - negotiable 2,566,520 2,566,520 The Illinois Funds 56,551,789 56,549,751 U.S. treasuries 9,127,180 9,127,180 U.S. agencies 30,475,356 30,475,356 Municipal obligations 5,565,458 5,565,458 Corporate obligations 24,243,147 24,243,147 Mutual funds 121,411,255 121,411,255 Stocks 588,742 588,742 Total Deposits and Investments $328,399,017 $328,002,376 Reconciliation to financial statements Per statement of net position Cash and cash equivalents $121,489,672 Investments 6,273,673 Per statement of net position - fiduciary funds Cash and cash equivalents - Pension Trusts 6,775,944 Cash and cash equivalents - Custodial Funds 1,362,144 U.S. treasuries 9,127,180 U.S. agencies 30,475,355 Mutual funds 121,411,255 Corporate obligations 24,243,147 Municipal obligations 5,565,459 Stocks 588,742 Negotiable certificates of deposit 1,086,446 Total Deposits and Investments $328,399,017 Deposits in each local and area bank are insured by the FDIC in the amount of $250,000 for time and savings accounts (including NOW accounts) and $250,000 for demand deposit accounts (interest-bearing and noninterest-bearing). In addition, if deposits are held in an institution outside of the state in which the government is located, insured amounts are further limited to a total of $250,000 for the combined amount of all deposit accounts. 53 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) The Village categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The Village used the market valuation method for recurring fair value measurements. As of December 31, 2020, investments were measured using valuation inputs as follows: Village December 31, 2020 Investment Type Level 1 Level 2 Level 3 Total Negotiable certificates of deposit $-$ 1,480,074 $-$ 1,480,074 Total $-$ 1,480,074 $-$ 1,480,074 Police Pension Fund December 31, 2020 Investment Type Level 1 Level 2 Level 3 Total U.S. treasuries $4,700,188 $-$-$4,700,188 U.S. agencies -6,772,548 -6,772,548 Municipal obligations -499,688 -499,688 Corporate obligations -18,322,331 -18,322,331 Total $ 4,700,188 $ 25,594,567 $-$ 30,294,755 Firefighters' Pension Fund December 31, 2020 Investment Type Level 1 Level 2 Level 3 Total U.S. treasuries $4,426,992 $-$-$4,426,992 U.S. agencies -23,702,807 -23,702,807 Municipal obligations -5,065,771 -5,065,771 Corporate obligations -5,920,816 -5,920,816 Stocks 588,742 --588,742 Negotiable certificates of deposit -1,086,446 -1,086,446 Total $ 5,015,734 $ 35,775,840 $-$ 40,791,574 54 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) Custodial Credit Risk Deposits Custodial credit risk is the risk that in the event of a financial institution failure, the Village's deposits may not be returned to the Village. The Village does not have any deposits exposed to custodial credit risk. Credit Risk Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. As of December 31, 2020, the Village's, Police Pension Fund, Firefighters' Pension Fund and Custodial Fund investments were rated as follows: Standard & Poor's Investment Type Fair Value AAA AA A BBB Not Rated Negotiable certificates of deposit $2,556,520 $-$-$-$-$2,556,520 The Illinois Funds 56,551,789 56,551,789 ---- U.S. agencies 30,475,356 -28,122,962 --2,352,394 Municipal obligations 5,565,458 285,163 3,916,283 112,692 -1,251,320 Corporate obligations 24,243,147 496,769 2,910,866 11,362,575 9,180,819 292,118 Totals $119,392,270 $57,333,721 $34,950,111 $11,475,267 $9,180,819 $6,452,352 Moody's Investors Services Investment Type Fair Value Aaa Aa A Baa Not Rated Negotiable certificates of deposit $2,556,520 $-$-$-$-$2,556,520 The Illinois Funds 56,551,789 ----56,551,789 U.S. agencies 30,475,356 28,032,730 ---2,442,626 Municipal obligations 5,565,458 125,426 1,653,441 153,881 -3,632,710 Corporate obligations 24,243,147 496,769 3,356,387 11,649,298 8,363,943 376,750 Totals $119,392,270 $28,654,925 $5,009,828 $11,803,179 $8,363,943 $65,560,395 55 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) Concentration of Credit Risk Concentration of credit risk is the risk of loss attributed to the magnitude of a government's investment in a single issuer. The Village does not have any investments exposed to concentration of credit risk. Interest Rate Risk Interest rate risk is the risk that changes in interest rates will adversely affect the value of an investment. As of December 31, 2020, investments were as follows: Village Maturity (In Years) Investment Type Fair Value Less than 1 1-5 Negotiable certificates of deposit $ 1,480,074 $ 1,231,074 $249,000 Totals $ 1,480,074 $ 1,231,074 $249,000 Police Pension Fund Maturity (In Years) Investment Type Fair Value Less than 1 1-5 6-10 Greater than 10 U.S. treasuries $4,700,188 $1,064,917 $1,618,051 $2,017,220 $- U.S. agencies 6,772,548 81,530 4,628,305 858,758 1,203,955 Municipal obligations 499,688 162,225 236,610 48,236 52,617 Corporate obligations 18,322,331 1,156,252 9,130,993 7,222,458 812,628 Totals $ 30,294,755 $ 2,464,924 $ 15,613,959 $ 10,146,672 $ 2,069,200 56 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) Interest Rate Risk (cont.) Firefighters' Pension Fund Maturity (In Years) Investment Type Fair Value Less than 1 1-5 6-10 Greater than 10 U.S. treasuries $4,426,992 $1,115,617 $1,617,984 $1,693,391 $- U.S. agencies 23,702,807 250,863 6,416,691 16,752,422 282,831 Municipal obligations 5,065,771 882,989 1,661,059 1,901,865 619,858 Negotiable certificates of deposit 1,086,446 -441,762 644,684 - Corporate obligations 5,920,816 251,517 1,827,570 3,841,729 - Totals $ 40,202,832 $ 2,500,986 $ 11,965,066 $ 24,834,091 $902,689 Money-Weighted Rate of Return Police Pension Fund For the year ended December 31, 2020, the annual money-weighted rate of return on the Police Pension plan investments, net of pension plan investment expense, was 10.46%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. Firefighters' Pension Fund For the year ended December 31, 2020, the annual money-weighted rate of return on the Firefighters' Pension plan investments, net of pension plan investment expense, was 15.04%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. See Note I.D.1. for further information on deposit and investment policies. 57 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) B.RECEIVABLES The following receivables are included in Receivables - Taxes on the Governmental Funds Balance Sheet: General Fund Taxes Receivable Property $12,782,628 Sales 7,436,809 Utility 658,057 Income 495,577 Use 613,649 Franchise 195,238 Hotel 29,764 Cannabis 9,328 Gross receivables 22,221,050 Less: Allowance for uncollectibles (406,241) Net Total Receivables $ 21,814,809 All of the receivables on the balance sheet are expected to be collected within one year with the exception of notes and lease receivable which will be collected in future years as well. 58 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) C.CAPITAL ASSETS Capital asset activity for the year ended December 31, 2020, was as follows: Beginning Balance Additions Deletions Ending Balance Governmental Activities Capital assets not being depreciated Land $21,076,696 $4,965,100 $-$26,041,796 Land right of way 55,281,951 --55,281,951 Total Capital Assets Not Being depreciated 76,358,647 4,965,100 -81,323,747 Capital assets being depreciated Buildings and improvements 97,327,847 172,498 -97,500,345 Machinery and equipment 20,524,990 1,023,068 439,455 21,108,603 Infrastructure 170,310,878 6,884,250 512,419 176,682,709 Total Capital Assets Being Depreciated 288,163,715 8,079,816 951,874 295,291,657 Total Capital Assets 364,522,362 13,044,916 951,874 376,615,404 Less: Accumulated depreciation for Buildings and improvements (29,496,037)(2,164,889)-(31,660,926) Machinery and equipment (14,538,127)(1,260,012)(426,435)(15,371,704) Infrastructure (80,958,720)(4,068,319)(512,419)(84,514,620) Total Accumulated depreciation (124,992,884)(7,493,220)(938,854)(131,547,250) Net Capital Assets Being Depreciated 163,170,831 586,596 13,020 163,744,407 Total Governmental Activities Capital Assets, Net $239,529,478 $ 5,551,696 $13,020 $245,068,154 Depreciation expense was charged to functions as follows: Governmental Activities General government $4,547,458 Public safety 1,267,635 Public works 1,244,856 Development 433,271 Total Governmental Activities Depreciation Expense $ 7,493,220 59 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) C.CAPITAL ASSETS (cont.) Beginning Balance Additions Deletions Ending Balance Business-type Activities Capital assets not being Depreciated Land $567,851 $-$-$567,851 Total Capital Assets Not Being Depreciated 567,851 --567,851 Capital assets being depreciated Buildings and improvements 3,048,261 185,314 -3,233,575 Water system 64,532,449 1,818,770 144,816 66,206,403 Sanitary sewer system 26,584,915 441,745 18,862 27,007,798 Equipment and vehicles 5,030,492 -67,968 4,962,524 Total Capital Assets Being depreciated 99,196,117 2,445,829 231,646 101,410,300 Total Capital Assets 99,763,968 2,445,829 231,646 101,978,151 Less: Accumulated depreciation for Buildings and improvements (1,307,381)(95,851)-(1,403,232) Water system (23,113,170)(1,337,205)(144,816)(24,305,559) Sanitary sewer system (7,921,755)(526,345)(18,862)(8,429,238) Equipment and vehicles (4,456,225)(150,715)(67,968)(4,538,972) Total Accumulated depreciation (36,798,531)(2,110,116)(231,646)(38,677,001) Net Capital Assets Being depreciated 62,397,586 335,713 -62,733,299 Total Business-type Capital Assets, Net $ 62,965,437 $335,713 $-$ 63,301,150 Business-type Activities Depreciation expense was charged to functions as follows: Business-type Activities Glenview Water Fund $1,428,563 Glenview Sanitary Sewer Fund 526,345 Wholesale Water Fund 62,816 Commuter Parking Fund 92,392 Total Business-type Activities Depreciation Expense $ 2,110,116 60 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) D.INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS Interfund Receivables/Payables The following is a schedule of interfund receivables and payables including any overdrafts on pooled cash and investment accounts: Receivable Fund Payable Fund Amount General Nonmajor Governmental $103 General Internal Service 5,662 Nonmajor Governmental General 3,797 Water Glenview Sanitary Sewer 239 Total - Fund Financial Statements 9,801 Less: Government-wide eliminations (9,801) Total Internal Balances - Government-Wide Statement of Net Position $- All amounts are due within one year. The following is a schedule of interfund advances: Receivable Fund Payable Fund Amount Amount Not Due Within One Year Village Permanent Special Tax Allocation $ 16,151,286 $- Total - Fund Financial Statements 16,151,286 Less: Fund eliminations (16,151,286) Total - Interfund Advances - Government-Wide Statement of Net Position $- 61 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) D.INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS (cont.) Transfers The following is a schedule of interfund transfers: Fund Transferred To Fund Transferred From Amount Principal Purpose General Nonmajor Enterprise $325,000 Transfer to recover overhead costs associated with running the Wholesale Water Fund General Internal Service 250,000 Transfer to fund a portion of the cost of operations in the General Fund Nonmajor Governmental General 2,260,749 Transfer to move property tax revenue to the appropriate fund and to pay debt. Nonmajor Governmental Capital Projects 420,000 Transfer to recover reduction in revenue associated with COVID-19 response plan Capital Projects General 10,000,000 Transfer to support the Capital Improvements Program Capital Projects Nonmajor Enterprise 573,024 Transfer of return on investment that is used to improve public roadways Capital Projects Nonmajor Governmental 1,026,783 Transfer to fund projects with Rebuild Illinois funding Glenview Water Nonmajor Enterprise 251,950 Transfer of funds for payment of engineering services Glenview Water Glenview Sanitary Sewer 84,387 Transfer to fund a portion of the AMI debt payment Total - Fund Financial Statements 15,191,893 Less: Fund eliminations (14,293,869) Total Transfers - Government-Wide Statement of Activities $898,024 Generally, transfers are used to (1) move revenues from the fund that collects them to the fund that the budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund, and (3) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. 62 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS Long-term obligations activity for the year ended December 31, 2020, was as follows: Beginning Balance Increases Decreases Ending Balance Amounts Due Within One Year Governmental Activities Bonds and Loans Payable General obligation debt $27,480,000 $-$8,390,000 $19,090,000 $8,660,000 Loans payable 280,260 -24,371 255,889 24,371 (Discounts)/Premiums Bond discount (5,245)-(1,049)(4,196)-Bond premium 1,578,394 -332,702 1,245,692 - Other Liabilities Compensated absences 1,521,478 1,146,174 1,141,109 1,526,543 305,309 Total OPEB liability 12,325,739 647,438 575,579 12,397,598 - Net pension liability 87,787,341 20,187,024 34,251,892 73,722,473 - Claims payable 1,497,505 144,435 446,309 1,195,631 478,252 Total Governmental Activities Long-Term Liabilities $132,465,472 $22,125,071 $45,160,913 $109,429,630 $9,467,932 Business-type Activities Notes Payable Notes Payable $5,422,699 $-$843,866 $4,578,833 $1,031,392 Other Liabilities Compensated absences 158,659 139,642 118,994 179,307 35,861 Total OPEB liability 269,410 65,338 14,852 319,896 - Net pension liability 2,431,314 1,325,138 2,843,540 912,912 - Total Business-type Activities Long-Term Liabilities $8,282,082 $1,530,118 $3,821,252 $5,990,948 $1,067,253 63 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS (cont.) General Obligation Debt Governmental Activities General Obligation Debt Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2020 $18,090,000 General Obligation Refunding Bond Series 2012A due in annual installments of $5,850,000 to $6,210,000 Special Tax Allocation 06/14/2012 12/01/2021 3.0% - 4.0%$6,210,000 $14,575,000 General Obligation Refunding Bond Series 2012B due in annual installments of $1,200,000 to $1,750,000 Corporate Purpose Bonds 12/18/2012 12/01/2024 3.0%-4.0%6,585,000 $6,065,000 General Obligation Bond Series 2013A due in annual installments of $245,000 to $410,000 Corporate Purpose Bonds 12/19/2013 12/01/2033 2.0%-4.0%4,315,000 $4,385,000 General Obligation Bond Taxable Series 2013B due in annual installments of $585,000 to $680,000 Waukegan Golf TIF 12/19/2013 12/1/2023 1.5%-3.5%1,980,000 Total Governmental Activities - General Obligation Debt $ 19,090,000 64 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS (cont.) General Obligation Debt (cont.) Debt service requirements to maturity are as follows: Governmental Activities General Obligation Debt Years Principal Interest 2021 $8,660,000 $715,882 2022 2,545,000 378,582 2023 2,655,000 284,532 2024 2,045,000 184,582 2025 305,000 123,232 2026-2030 1,695,000 443,826 2031-2033 1,185,000 96,000 Totals $ 19,090,000 $ 2,226,636 Loans and Notes Payable Loans and Notes Payable at December 31, 2020 consist of the following: Governmental Activities Loans and Notes Payable Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2020 $633,827 Illinois Environmental Protection Agency Loan due in semi-annual installments of $6,617 to $12,185 Capital Projects 10/01/2010 04/14/2031 N/A $255,889 Total Governmental Activities Loans and Notes Payable $255,889 Business-type Activities Loans and Notes Payable Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2020 $7,333,416 Draw/Term Note Payable due in annual installments of $50,000 to $1,200,000 Water 05/01/2015 12/01/2025 LIBOR through 8/1/16 then 2.0%$ 4,578,833 Total Business-type Activities Loans and Notes Payable $ 4,578,833 65 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS (cont.) Debt service requirements to maturity are as follows: Governmental Activities Business-type Activities Loans and Notes Payable Loans and Notes Payable Years Principal Interest Principal Interest 2021 $24,371 $-$1,031,392 $91,577 2022 24,370 -1,125,155 70,949 2023 24,370 -890,748 48,445 2024 24,370 -1,012,639 30,630 2025 24,370 -518,899 10,378 2026-2030 121,850 --- 2031-2034 12,188 --- Totals $255,889 $-$ 4,578,833 $251,979 Other Debt Information The compensated absences liability, total OPEB liability, and net pension liability attributable to governmental activities will be liquidated primarily by the General Fund. Noncommitment Debt - Special Service Area Bonds The special services area bonds outstanding as of December 31, 2020 totaled $1,794,324. These bonds are not an obligation of the Village and are secured by the levy of special debt service on the real property within each special service area. The Village is in no way liable for repayment, but is only acting as the agent for the property owners in levying and collecting the assessments and forwarding the collections to the bondholders. 66 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) F. LEASE DISCLOSURES Lessor - Capital Leases The Village of Glenview owns a parcel of land valued at $1,560,000 which is for the former Dominick's leased property (1020 Waukegan Road). The Village purchased this property in 2007 and continued to lease this property to Dominick's through the lease expiration date of December 31, 2012. The Village entered into an agreement in December 2012 to lease the land over a ten year period to a high quality, full-service grocer. The lease commenced on November 1, 2013 and qualifies as a capital lease. Therefore the Village recorded a $442,000 lease receivable as of fiscal year-end. Governmental Activities Years Principal Interest Total 2021 $144,433 $11,567 $156,000 2022 149,198 6,802 156,000 2023 128,084 1,916 130,000 Totals $421,715 $20,285 $442,000 G.COMPONENT UNIT GLENVIEW LIBRARY This report contains the Glenview Library (Library), which is included as a component unit. In addition to the basic financial statements and the preceding notes to financial statements which apply, the following additional disclosures are considered necessary for a fair presentation. a. Basis of Accounting/Measurement Focus The Library follows the modified accrual basis of accounting and the flow of economic resources measurement focus. 67 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) b. Deposits and Investments Carrying Value Statement Balances Deposits $6,270,164 $6,300,117 The Illinois Funds 4,705 4,705 Total Deposits and Investments $ 6,274,869 $ 6,304,822 Reconciliation to financial statements Per statement of net position Cash and cash equivalents $ 6,274,869 Total Deposits and Investments $ 6,274,869 Custodial Credit Risk Deposits Custodial credit risk is the risk that in the event of a financial institution failure, the Library's deposits may not be returned to the Library. The Library does not have any deposits exposed to custodial credit risk. Credit Risk Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The Library had investments in the Illinois Funds which was rated AAA by Standard & Poor's and not rated by Moody's Investors Services. See Note I.D.1. for further information on deposit and investment policies. 68 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) c. Capital Assets Beginning Balance Additions Deletions Ending Balance Capital assets not being depreciated Land $ 5,426,987 $-$-$ 5,426,987 Total Capital Assets Not Being Depreciated 5,426,987 --5,426,987 Capital assets being depreciated Buildings and improvements 27,247,032 1,342,162 -28,589,194 Equipment and vehicles 128,107 --128,107 Library books and materials 6,028,895 667,686 637,082 6,059,499 Total Capital Assets Being Depreciated 33,404,034 2,009,848 637,082 34,776,800 Total Capital Assets 38,831,021 2,009,848 637,082 40,203,787 Less: Accumulated depreciation for Buildings and improvements (5,446,478)(599,423)-(6,045,901) Equipment and vehicles (121,900)(2,070)-(123,970) Library books and materials (3,971,687)(685,057)(637,082)(4,019,662) Total Accumulated Depreciation (9,540,065)(1,286,550)(637,082)(10,189,533) Net Capital Assets Being Depreciated 23,863,969 723,298 -24,587,267 Total Component Unit Capital Assets, Net $ 29,290,956 $723,298 $-$ 30,014,254 69 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) d. Interfund Transfers The following is a schedule of interfund transfers: Fund Transferred To Fund Transferred From Amount Principal Purpose Library General Friends of the Library $50,000 Transfer for fund capital improvement costs Library General Gift 20,000 Transfer for fund capital improvement costs Library Special Reserve Library General 538,824 Transfer to fund certain capital costs Total - Fund Financial Statements $608,824 e. Long-Term Obligations Beginning Balance Increases Decreases Ending Balance Amounts Due Within One Year Bonds Payable General obligation debt $14,243,100 $-$1,132,750 $13,110,350 $1,191,850 (Discounts)/Premiums Bond premium 1,926,389 -192,639 1,733,750 - Other Liabilities Compensated absences 236,736 164,374 191,504 209,606 41,921 Total OPEB liability 237,758 6,272 10,827 233,203 - Net pension liability 3,825,253 2,271,769 4,609,506 1,487,516 - Total Component Units Long- Term Liabilities $ 20,469,236 $ 2,442,415 $ 6,137,226 $ 16,774,425 $ 1,233,771 70 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) e. Long-Term Obligations (cont.) Obligation Debt Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2020 $15,326,600 General Obligation Refunding Bond Series 2016A due in annual installments of $1,100,000 to $1,750,000 Library Debt Service 10/27/2016 12/01/2029 4.45%- 5.91%$ 13,110,350 Total Component Unit - General Obligation Debt $ 13,110,350 Debt service requirements to maturity are as follows: Principal Interest Totals 2021 $1,191,850 $571,644 $1,763,494 2022 1,250,950 512,052 1,763,002 2023 1,314,975 449,504 1,764,479 2024 1,383,925 383,756 1,767,681 2025 1,452,875 314,560 1,767,435 2026-2029 6,515,775 561,252 7,077,027 Totals $ 13,110,350 $ 2,792,768 $ 15,903,118 The compensated absences liability, total OPEB liability, and net pension liability will be liquidated primarily by the Library General Fund. 71 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION A.EMPLOYEES' RETIREMENT SYSTEM The Village contributes to three defined benefit pension plans, the Illinois Municipal Retirement Fund (IMRF), an agent-multiple-employer public employee retirement system; the Police Pension Plan which is a single-employer pension plan; and the Firefighters' Pension Plan which is a single-employer pension plan. The benefits, benefit levels, employee contributions and employer contributions for the plans are governed by Illinois Compiled Statutes and can only be amended by the Illinois General Assembly. The Police Pension Plan and the Firefighters' Pension Plan do not issue separate reports on the pension plans. IMRF does issue a publicly available report that includes financial statements and supplementary information for the plan as a whole, but not for individual employers. That report can be obtained from IMRF, 2211 York Road, Suite 500, Oak Brook, Illinois 60523. This report is also available for download at www.imrf.org. Pension expense. At December 31, 2019, the aggregate amount of pension expense recognized for the three pension plans was as follows: Plan Amount IMRF $2,185,483 Police Pension 2,418,949 Firefighters' Pension 4,378,983 Total $ 8,983,415 Illinois Municipal Retirement Fund Plan description.All employees (other than those covered by the Police and Firefighters' Pension plans) hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. IMRF has a two tier plan. Members who first participated in IMRF or an Illinois Reciprocal System prior to January 1, 2011 participate in Tier 1. All other members participate in Tier 2. For Tier 1 participants, pension benefits vest after 8 years of service. Participating members who retire at age 55 (at reduced benefits) or after age 60 (at full benefits) with 8 years of service are entitled to an annual retirement benefit, payable monthly for life in an amount equal to 1-2/3% of their final rate of earnings (average of the highest 48 consecutive months' earnings during the last 10 years) for credited service up to 15 years and 3% for each year thereafter. Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 participants, pension benefits vest after 10 years of service. Participating members who retire at age 62 (at reduced benefits) or after age 67 (at full benefits) with 10 years of service are entitled to an annual retirement benefit, payable monthly for life in an amount equal to 1-2/3% of their final rate of earnings for the first 15 years of service credit, plus 2% for each year of service after 15 years to a maximum of 75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any 96 consecutive months within the last 10 years of service, divided by 96. Under Tier 2, the pension is increased every year after retirement, upon reaching age 67, by the lesser of 3% of the original pension amount or 1/2 of the increase in the Consumer Price Index of the original pension amount. 72 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Under the employer number within IMRF, both the Village and Glenview Library contribute to the plan. As a result, IMRF is considered to be an agent multiple-employer plan through which cost-sharing occurs between the Village and Glenview Library. Plan membership. At December 31, 2019, the measurement date, membership in the plan was as follows: Retirees and beneficiaries 261 Inactive, non-retired members 179 Active members 204 Total 644 Contributions. As set by statute, Village and Glenview Library employees participating in IMRF are required to contribute 4.50% of their annual covered salary. The statute requires the Village and Glenview Library to contribute the amount necessary, in addition to member contributions, to finance the retirement coverage of its own employees. The Village and Glenview Library’s actuarially determined contribution rate for calendar year 2019 was 9.54% of annual covered payroll for IMRF. The Village and Glenview Library also contribute for disability benefits, death benefits and supplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by statute. Net Pension Liability/(Asset). The net pension liability/(asset) was measured as of December 31, 2019, and the total pension liability used to calculate the net pension liability/(asset) was determined by an actuarial valuation as of that date. Summary of Significant Accounting Policies. For purposes of measuring the net pension liability/(asset), deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of IMRF and additions to/deductions from IMRF fiduciary net position have been determined on the same basis as they are reported by IMRF. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Actuarial Assumptions. The total pension liability for IMRF was determined by actuarial valuations performed as of December 31, 2019 using the following actuarial methods and assumptions: Actuarial cost method Entry Age Normal Asset valuation method Fair Value Actuarial assumptions Investment Rate of Return 7.25% Salary increases 3.35% to 14.25%, including inflation Price inflation 2.50% 73 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Mortality. For non-disabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Blue Collar Health Annuitant Mortality Table with adjustments to match current IMRF experience. For disabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP- 2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Disabled Retirees Mortality Table applying the same adjustment that were applied for non-disabled lives. For active members, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Employee Mortality Table with adjustments to match current IMRF experience. Long-Term Expected Real Rate of Return. The long-term expected rate of return on pension plan investments was determined using an asset allocation study in which best-estimate ranges of expected future real rates of return (net of pension plan investment expense and inflation) were developed for each major asset class. These ranges were combined to produce long-term expected rate of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic and geometric real rates of return for each major asset class are summarized in the following table: Projected Returns/Risks Asset Class Target Allocation One Year Arithmetic Ten Year Geometric Equities 37.00%7.05%5.75% International equities 18.00%8.10%6.50% Fixed income 28.00%3.70%3.25% Real estate 9.00%6.35%5.20% Alternatives 7.00% Private equity 11.30%7.60% Hedge funds N/A N/A Commodities 4.65%3.60% Cash equivalents 1.00%1.85%1.85% Discount rate.The discount rate used to measure the total pension liability for IMRF was 7.25%, the same rate as the prior valuation. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that Village and Glenview Library contributions will be made at rates equal to the difference between actuarially determined contribution rate and the member rate. Based on those assumptions, the fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on investments was applied to all periods of projected benefits to determine the total pension liability. 74 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Discount rate sensitivity. The following is a sensitivity analysis of the net pension liability/(asset) to changes in the discount rate. The table below presents net pension liability/(asset) of the Village and Glenview Library calculated using the discount rate of 7.25% as well as what the net pension liability/(asset) would be if it were to be calculated using a discount rate that is 1 percentage point lower (6.25%) or 1 percentage point higher (8.25%) than the current rate: 1% Decrease Current Discount Rate 1% Increase Village: Total pension liability $106,799,553 $94,645,050 $84,655,969 Plan fiduciary net pension 89,282,120 89,282,120 89,282,120 Net pension liability/(asset)$ 17,517,433 $ 5,362,930 $(4,626,151) Glenview Library: Total pension liability $29,622,990 $26,251,696 $23,481,025 Plan fiduciary net pension 24,764,180 24,764,180 24,764,180 Net pension liability/(asset)$ 4,858,810 $ 1,487,516 $(1,283,155) Total: Total pension liability $136,422,543 $120,896,746 $108,136,994 Plan fiduciary net pension 114,046,300 114,046,300 114,046,300 Net pension liability/(asset)$ 22,376,243 $ 6,850,446 $(5,909,306) Changes in net pension liability/(asset). The changes in net pension liability/(asset)for the calendar year ended December 31, 2019 were as follows: Increase (Decrease) Total Pension Liability (a) Plan Fiduciary Net Position (b) Net Pension Liability/(Asset) (a) - (b) Village: Balances at December 31, 2018 $91,545,750 $77,665,407 $13,880,343 Service cost 1,273,811 -1,273,811 Interest on total pension liability 6,510,753 -6,510,753 Differences between expected and actual experience of the total pension liability (182,384)-(182,384) Benefit payments, including refunds of employee contributions (4,502,880)(4,502,880)- Contributions - employer -1,227,435 (1,227,435) Contributions - employee -574,253 (574,253) Net investment income -14,577,831 (14,577,831) Other (net transfer)-(259,926)259,926 Balances at December 31, 2019 $ 94,645,050 $ 89,282,120 $ 5,362,930 75 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Increase (Decrease) Total Pension Liability (a) Plan Fiduciary Net Position (b) Net Pension Liability/(Asset) (a) - (b) Glenview Library: Balances at December 31, 2018 $25,228,891 $21,403,638 $3,825,253 Service cost 353,317 -353,317 Interest on total pension liability 1,805,888 -1,805,888 Differences between expected and actual experience of the total pension liability 112,564 -112,564 Benefit payments, including refunds of employee contributions (1,248,964)(1,248,964)- Contributions - employer -340,453 (340,453) Contributions - employee -159,281 (159,281) Net investment income -4,181,868 (4,181,868) Other (net transfer)-(72,096)72,096 Balances at December 31, 2019 $ 26,251,696 $ 24,764,180 $ 1,487,516 Total: Balances at December 31, 2018 $116,774,641 $99,069,045 $17,705,596 Service cost 1,627,128 -1,627,128 Interest on total pension liability 8,316,641 -8,316,641 Differences between expected and actual experience of the total pension liability (69,820)-(69,820) Benefit payments, including refunds of employee contributions (5,751,844)(5,751,844)- Contributions - employer -1,567,888 (1,567,888) Contributions - employee -733,534 (733,534) Net investment income -18,759,699 (18,759,699) Other (net transfer)-(332,022)332,022 Balances at December 31, 2019 $120,896,746 $114,046,300 $ 6,850,446 Plan fiduciary net position as a percentage of the total pension liability %94.33 The net pension liability as of December 31, 2020 is reported on the financial statements as follows: Business-Type Activities Governmental Activities Glenview Water Fund Glenview Sanitary Sewer Fund Total Business- Type Activities Component Unit - Glenview Library Total Net Pension Liability $4,450,018 $756,676 $156,236 $912,912 $1,487,516 $6,850,446 76 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Pension expense and deferred outflows of resources and deferred inflows of resources related to pensions.For the year ended December 31, 2020, the Village and Glenview Library recognized pension expense of 2,185,483. The Village and Glenview Library reported deferred outflows and inflows of resources related to pension from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Village: Difference between expected and actual experience $620,937 $283,595 Assumption changes 1,153,363 519,108 Net difference between projected and actual earnings on pension plan investments -3,877,864 Changes in component proportion between governmental, business and component unit 167,519 216,045 Contributions subsequent to the measurement date 1,630,298 - Total $ 3,572,117 $ 4,896,612 Glenview Library: Difference between expected and actual experience $172,229 $78,660 Assumption changes 319,908 143,985 Net difference between projected and actual earnings on pension plan investments -1,075,604 Changes in component proportion between governmental, business and component unit 48,526 - Contributions subsequent to the measurement date 452,196 - Total $992,859 $ 1,298,249 Total: Difference between expected and actual experience $793,166 $362,255 Assumption changes 1,473,271 663,093 Net difference between projected and actual earnings on pension plan investments -4,953,468 Changes in component proportion between governmental, business and component unit 216,045 216,045 Contributions subsequent to the measurement date 2,082,494 - Total $ 4,564,976 $ 6,194,861 77 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) The deferred inflows of resources and deferred outflows of resources as of December 31, 2020 is reported on the financial statements as follows: Business-Type Activities Governmental Activities Glenview Water Fund Glenview Sanitary Sewer Fund Total Business- Type Activities Component Unit - Glenview Library Total Deferred Outflows of Resources $2,825,045 $642,391 $104,681 $747,072 $992,859 $4,564,976 Deferred Inflows of Resources 4,099,856 660,399 136,357 796,756 1,298,249 6,194,861 The amount reported as deferred outflows resulting from contributions subsequent to the measurement date in the above table will be recognized as a reduction in the net pension liability/(asset) for the year ending December 31, 2021. The remaining amounts reported as deferred outflows and inflows of resources related to pensions was a negative $3,712,379 which will be recognized in pension expense as follows: Year Ending December 31,Village Component Unit - Glenview Library Total 2021 $(815,381)$(226,162)$(1,041,543) 2022 (557,521)(154,639)(712,160) 2023 300,764 83,423 384,187 2024 (1,882,655)(460,208)(2,342,863) Total $(2,954,793)$(757,586)$(3,712,379) Police Pension Plan description. Police sworn personnel are covered by the Police Pension Plan, which is a defined benefit single-employer pension plan. Although this is a single employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois State Statutes (Chapter 40 ILCS 5/3) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust fund. As provided for in the Illinois Compiled Statutes, the Plan provides retirement benefits as well as death and disability benefits to employees grouped into two tiers. Tier 1 is for employees hired prior to January 1, 2011 and Tier 2 is for employees hired after that date. The following is a summary of the Police Pension Fund as provided for in Illinois Compiled Statutes. 78 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Police Pension (cont.) Tier 1 - Covered employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit of one half of the salary attached to the rank on the last day of service, or for one year prior to the last day, whichever is greater. The pension shall be increased by 2.5% of such salary for each additional year of service over 20 years up to 30 years to a maximum of 75% of such salary. Employees with at least 8 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original pension and 3% compounded annually thereafter. Tier 2 - Covered employees attaining the age of 55 or more with 10 or more years of creditable service are entitled to receive a monthly pension of 2.5% of the final average salary for each year of creditable service. The salary is initially capped at $106,800 but increases annually thereafter and is limited to 75% of final average salary. Employees with 10 or more years of creditable service may retire at or after age 50 and receive a reduced retirement benefit. The monthly pension of a police shall be increased annually on the January 1 occurring either on or after the attainment of age 60 or the first anniversary of the pension start date, whichever is later. Each annual increase shall be calculated at 3% or onehalf the annual unadjusted percentage increase in the CPI, whichever is less. Plan membership. At December 31, 2020, the Police Pension membership consisted of: Retirees and beneficiaries 70 Inactive, non-retired members 6 Active members 66 Total 142 79 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Police Pension (cont.) Contributions. Covered employees are required to contribute 9.91% of their base salary to the Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The Village is required to contribute the remaining amounts necessary to finance the plans as actuarially determined by an enrolled actuary. Effective January 1, 2011 the Village’s contributions must accumulate to the point where the past service cost for the Police Pension Plan is 90% funded by the year 2040. The Village's actuarially determined contribution of $3,466,223 for the fiscal year ending December 31, 2020 was 47.92% of annual covered payroll. Net Pension Liability/(Asset). The net pension liability/(asset) was measured as of December 31, 2020, and the total pension liability used to calculate the net pension liability/(asset) was determined by an annual actuarial valuation as of that date. Summary of Significant Accounting Policies. The financial statements of the Police Pension Plan are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which contributions are due. The Village’s contributions are recognized when due and a formal commitment to provide the contributions are made. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. Plan investments are reported at fair value. Short-term investments are reported at cost, which approximated fair value. Investments that do not have an established market are reported at estimated fair values. Actuarial Assumptions. The total pension liability was determined by an actuarial valuation performed as of December 31, 2020 using the following actuarial methods and assumptions: Actuarial cost method Entry Age Normal Asset valuation method Fair Value Actuarial assumptions Interest rate 6.75% Inflation 2.50% Projected salary increases - service based rates 3.62% to 7.36% Cost-of-living adjustments Tier 1 - 3.00% Tier 2 - 1.25% 80 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Police Pension (cont.) Mortality Rate Active Lives: PubS.H-2010 Employee mortality, projected to 2032 with Scale MP-2020. 10% of active deaths are assumed to be in the line of duty. Mortality Rate Inactive Lives: PubS.H-2010 Healthy Retiree mortality, projected to 2032 with Scale MP-2020. Mortality Rate Beneficiaries: PubS.H- 2010 Survivor mortality, projected to 2032 with Scale MP-2020. Mortality Rate Disabled Lives: PubS.H- 2010 Disabled mortality, projected to 2032 with Scale MP-2020. Discount rate. The discount rate used to measure the total pension liability for the Police Pension Plan was 6.75%, the same as the prior valuation. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that Village contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on Plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Discount rate sensitivity.The following is a sensitivity analysis of the net pension liability to changes in the discount rate. The table below presents the pension liability of the Village calculated using the discount rate of 6.75% as well as what the net pension liability would be if it were to be calculated using a discount rate that is 1 percentage point lower (5.75%) or 1 percentage point higher (7.75%) than the current rate: 1% Decrease Current Discount Rate 1% Increase Total pension liability $139,515,958 $122,346,507 $108,281,381 Plan fiduciary net position 93,209,672 93,209,673 93,209,672 Net pension liability $ 46,306,286 $ 29,136,834 $ 15,071,709 81 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Police Pension (cont.) Changes in net pension liability/(asset).The Village's changes in net pension liability/(asset) for the calendar year ended December 31, 2020 was as follows: Increase (Decrease) Total Pension Liability (a) Plan Fiduciary Net Position (b) Net Pension Liability/Asset (a) - (b) Balances at December 31, 2019 $114,964,098 $85,370,349 $29,593,749 Service cost 1,684,161 -1,684,161 Interest on total pension liability 7,685,020 -7,685,020 Differences between expected and actual experience of the total pension liability 3,605,445 -3,605,445 Benefit payments, including refunds of employee contributions (5,592,217)(5,592,217)- Contributions - employer -3,466,223 (3,466,223) Contributions - employee -1,397,725 (1,397,725) Net investment income -8,655,205 (8,655,205) Administration -(87,612)87,612 Balances at December 31, 2020 $122,346,507 $ 93,209,673 $ 29,136,834 Plan fiduciary net position as a percentage of the total pension liability %76.18 Pension expense and deferred outflows of resources and deferred inflows of resources related to pensions.For the year ended December 31, 2020, the Village recognized pension expense of $2,418,949. The Village reported deferred outflows and inflows of resources related to pension from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Difference between expected and actual experience $3,469,908 $- Assumption changes 1,267,751 - Net difference between projected and actual earnings on pension plan investments -4,263,117 Total $ 4,737,659 $ 4,263,117 82 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Police Pension (cont.) The amounts reported as deferred outflows and inflows of resources related to pensions ($474,542) will be recognized in pension expense as follows: Year Ending December 31,Amount 2021 $465,267 2022 589,164 2023 (1,255,539) 2024 74,742 2025 600,908 Total $474,542 Firefighters' Pension Plan description. Fire sworn personnel are covered by the Firefighters' Pension Plan, which is a defined benefit single-employer pension plan. Although this is a single employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois State Statutes (Chapter 40 ILCS 5/3) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust fund. As provided for in the Illinois Compiled Statutes, the Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits to employees grouped into two tiers. Tier 1 is for employees hired prior to January 1, 2011 and Tier 2 is for employees hired after that date. The following is a summary of the Firefighters' Pension Plan as provided for in Illinois Compiled Statutes. Tier 1 - Covered employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive a monthly retirement benefit of one half of the monthly salary attached to the rank held in the fire service at the date of retirement. The monthly pension shall be increased by one twelfth of 2.5% of such monthly salary for each additional month over 20 years of service through 30 years of service to a maximum of 75% of such monthly salary. Employees with at least 10 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a firefighter who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original pension and 3% compounded annually thereafter. 83 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Tier 2 - Covered employees attaining the age of 55 or more with 10 or more years of creditable service are entitled to receive a monthly pension of 2.5% of the final average salary for each year of creditable service. The salary is initially capped at $106,800 but increases annually thereafter and is limited to 75% of final average salary. Employees with 10 or more years of creditable service may retire at or after age 50 and receive a reduced retirement benefit. The monthly pension of a firefighter shall be increased annually on the January 1 occurring either on or after the attainment of age 60 or the first anniversary of the pension start date, whichever is later. Each annual increase shall be calculated at 3% or one-half the annual unadjusted percentage increase in the CPI, whichever is less. Plan membership. At December 31, 2020, the Firefighters' Pension Plan membership consisted of: Retirees and beneficiaries 97 Inactive, non-retired members 4 Active members 78 Total 179 Contributions. Participants contribute a fixed percentage of their base salary to the plans. At December 31, 2020, the contribution percentage was 9.455%. If a participant leaves covered employment with less than 20 years of service, accumulated participant contributions may be refunded without accumulated interest. The Village is required to contribute the remaining amounts necessary to finance the plans as actuarially determined by an enrolled actuary. Effective January 1, 2011 the Village’s contributions must accumulate to the point where the past service cost for the Firefighters' Pension Plan is 90% funded by the year 2040. The VillageVillage's actuarially determined contribution of $5,141,206 for the fiscal year ending December 31, 2020 was 55.98% of annual covered payroll. Net pension liability/(asset). The net pension liability/(asset) was measured as of December 31, 2020, and the total pension liability used to calculate the net pension liability/(asset) was determined by an annual actuarial valuation as of that date. Summary of significant accounting policies. The financial statements of the Firefighters' Pension Plan are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which contributions are due. The Village’s contributions are recognized when due and a formal commitment to provide the contributions are made. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. Plan investments are reported at fair value. Short-term investments are reported at cost, which approximated fair value. Investments that do not have an established market are reported at estimated fair values. 84 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Actuarial assumptions. The total pension liability was determined by an actuarial valuation performed as of December 31, 2020 using the following actuarial methods and assumptions: Actuarial cost method Entry Age Normal Asset valuation method Fair Value Actuarial assumptions Interest rate 7.00% Inflation 2.25% Projected salary increases 3.75% - 7.25% Cost-of-living adjustments 3.25 Mortality Rates: Active mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study. Retiree and Disabled mortality follows the L&A assumption study for Firefighters 2020. These rates are experience weighted with Sex Distinct Raw Rates as developed in the PubS-2010(A) Study improved to 2017 using MP-2019 Improvement rates. Spouse mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study for contingent survivors. For all demographics, all rates are then improved fully generationaly using MP-2019 Improvement Rates. Discount rate. The discount rate used to measure the total pension liability for the Firefighters' Pension Plan was 7.00%, the same as the prior valuation. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that Village contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on Plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Discount rate sensitivity.The following is a sensitivity analysis of the net pension liability to changes in the discount rate. The table below presents the pension liability of the Village calculated using the discount rate of 7.00% as well as what the net pension liability would be if it were to be calculated using a discount rate that is 1 percentage point lower (6.00%) or 1 percentage point higher (8.00%) than the current rate: 1% Decrease Current Discount Rate 1% Increase Total pension liability $167,203,761 $146,560,409 $129,726,444 Plan fiduciary net position 106,424,788 106,424,788 106,424,788 Net pension liability $ 60,778,973 $ 40,135,621 $ 23,301,656 85 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Changes in net pension liability/(asset).The Village's changes in net pension liability/(asset) for the calendar year ended December 31, 2020 was as follows: Increase (Decrease) Total Pension Liability (a) Plan Fiduciary Net Position (b) Net Pension Liability/Asset (a) - (b) Balances at December 31, 2019 $140,215,219 $93,470,656 $46,744,563 Service cost 2,303,849 -2,303,849 Interest on total pension liability 9,665,126 -9,665,126 Differences between expected and actual experience of the total pension liability 765,410 -765,410 Change of assumptions 676,347 -676,347 Benefit payments, including refunds of employee contributions (7,065,542)(7,065,542)- Contributions - employer -5,141,206 (5,141,206) Contributions - employee -926,080 (926,080) Net investment income -14,045,114 (14,045,114) Administration -(92,726)92,726 Balances at December 31, 2020 $146,560,409 $106,424,788 $ 40,135,621 Plan fiduciary net position as a percentage of the total pension liability %72.61 Pension expense and deferred outflows of resources and deferred inflows of resources related to pensions.For the year ended December 31, 2020, the Village recognized pension expense of $4,378,983. The Village reported deferred outflows and inflows of resources related to pension from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Difference between expected and actual experience $1,915,802 $677,217 Assumption changes 3,828,103 - Net difference between projected and actual earnings on pension plan investments -9,067,486 Total $ 5,743,905 $ 9,744,703 86 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) The amounts reported as deferred outflows and inflows of resources related to pensions was a negative $4,000,798 which will be recognized in pension expense as follows: Year Ending December 31,Amount 2021 $(410,127) 2022 (258,596) 2023 (2,794,241) 2024 (802,340) 2025 264,506 Total $(4,000,798) PENSION SEGMENT INFORMATION Fiduciary Net Position Pension Trust Police Pension Fund Firefighters' Pension Fund Total Assets Cash and Cash Equivalents $5,242,951 $1,532,993 $6,775,944 Investments U.S. Treasuries 4,700,188 4,426,992 9,127,180 U.S. Agencies 6,772,548 23,702,807 30,475,355 Mutual Funds 57,477,156 63,934,099 121,411,255 Corporate Obligations 18,322,331 5,920,816 24,243,147 Municipal Obligations 499,688 5,065,771 5,565,459 Stocks -588,742 588,742 Negotiable Certificates of Deposit -1,086,446 1,086,446 Receivables - (net allowances for uncollectibles) Accrued Interest 188,280 206,066 394,346 Due from Primary Government 8,840 12,488 21,328 Prepaid Items 8,197 6,622 14,819 Total Assets 93,220,179 106,483,842 199,704,021 Liabilities Accrued Expenses 10,506 59,054 69,560 Total Liabilities 10,506 59,054 69,560 Net Position Restricted for pension benefits $ 93,209,673 $106,424,788 $199,634,461 87 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Changes in Plan Net Position Pension Trust Police Pension Fund Firefighters' Pension Fund Total Additions Contributions Employer $3,466,223 $5,141,206 $8,607,429 Participant 1,397,725 926,080 2,323,805 Total Contributions 4,863,948 6,067,286 10,931,234 Investment Income Net Appreciation in Fair Value of Investments 5,896,917 11,799,462 17,696,379 Pensions - Interest income 2,867,679 2,417,461 5,285,140 Total Investment income 8,764,596 14,216,923 22,981,519 Less investment expense 109,391 171,809 281,200 Net investment income 8,655,205 14,045,114 22,700,319 Total Additions 13,519,153 20,112,400 33,631,553 Deductions Retirement Pensions 5,249,019 5,787,276 11,036,295 Widow Pensions 150,054 654,617 804,671 Disability Pensions 139,968 536,847 676,815 Children's Pensions 48,270 11,143 59,413 Contribution Refunds 4,906 75,659 80,565 Administration 87,612 92,726 180,338 Total Deductions 5,679,829 7,158,268 12,838,097 Change in net position 7,839,324 12,954,132 20,793,456 Net position, beginning of year 85,370,349 93,470,656 178,841,005 Net position, end of year $ 93,209,673 $106,424,788 $199,634,461 B.RISK MANAGEMENT The Village is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets; errors and omissions; workers compensation; and health care of its employees. The Village is self-insured for general liability, auto, property, and workers' compensation risks. are accounted for and financed by the Village in an internal service fund - the Insurance and Risk Fund. 88 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) B.RISK MANAGEMENT (cont.) Self Insurance The Village's policy is to finance currently in this fund all claims paid, estimated future payments with respect to claims made, and estimated claims incurred but not reported. The Insurance and Risk Fund provides coverage up to a maximum of $200,000 for each general liability claim, $500,000 for Village employees and $600,000 for police officers and firefighters for each workers' compensation claim, and $100,000 for each property damage claim. Such payments are displayed on the fund financial statements as insurance services expenses. The Village has purchased commercial insurance for claims in excess of those amounts. Settled claims have not exceeded the commercial coverage in any of the past three years. A liability for a claim is established if information indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss is reasonably estimated. Liabilities include an amount for claims that have been incurred but not reported. The Village does not allocate overhead costs or other nonincremental costs to the claims liability. Claims Liability Prior Year Current Year Unpaid claims - Beginning of Year $1,407,436 $1,497,505 Current year claims and changes in estimates 616,666 144,435 Claim payments (526,597)(446,309) Unpaid Claims - End of Year $ 1,497,505 $ 1,195,631 Public Entity Risk Pool Intergovernmental Personnel Benefit Cooperative (IPBC) The Village participates in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a public entity risk pool established by certain units of local government in Illinois to administer some or all of the personnel benefit programs (such as medical, dental, and life insurance coverage) offered by its members to their employees and to the employees of certain other governmental, quasi-governmental, and nonprofit public service entities. Management consists of a Board of Directors, comprised of one representative from each member or sub-ped. Additionally, there is an Executive Board that sets the strategic direction of IPBC. The Village does not exercise any control over the activities of the IPBC beyond its representation on the Board of Directors. 89 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) C.COMMITMENTS AND CONTINGENCIES Claims and judgments are recorded as liabilities if all the conditions of Governmental Accounting Standards Board pronouncements are met. The liability and expenditure for claims and judgments are only reported in governmental funds if it has matured. Claims and judgments are recorded in the government-wide statements and proprietary funds as expenses when the related liabilities are incurred. From time to time, the Village is party to various pending claims and legal proceedings. Although the outcome of such matters cannot be forecasted with certainty, it is the opinion of management and the Village attorney that the likelihood is remote that any such claims or proceedings will have a material adverse effect on the Village's financial position or results of operations. The Village has received federal and state grants for specific purposes that are subject to review and audit by the grantor agencies. Such audits could lead to requests for reimbursements to the grantor agency for expenditures disallowed under terms of the grants. Management believes such disallowances, if any, would be immaterial. D.JOINT VENTURES Solid Waste Agency of Northern Cook County The Village is a member of a joint venture, the Solid Waste Agency of Northern Cook County (SWANCC), which consists of twenty-three municipalities. SWANCC is a municipal corporation and public body politic established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended, (the Act). SWANCC is empowered under the Act to plan, construct, finance, operate, and maintain a solid waste disposal system to serve its members. The contract with SWANCC provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. The members form a contiguous geographic service area, which is located northwest of downtown Chicago. Under the SWANCC Agreement, additional members may join SWANCC upon the approval of each member. SWANCC is governed by a Board of Directors, which consists of one appointed Mayor or President from each member municipality. Each Director has an equal vote. The seven-member Executive Committee of SWANCC is elected by the Board of Directors. The Board of Directors determines the general policy of SWANCC, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of bonds or notes by SWANCC, adopts by-laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the agreement or the by-laws. In accordance with the joint venture agreement, the Village remitted $538,349 to SWANCC for the year ended December 31, 2020. The payments are recorded in the General Fund. The Village does not have an equity interest in SWANCC at December 31, 2020. Complete financial statements for SWANCC can be obtained from SWANCC's administrative office at 2700 Patriot Boulevard, Suite 110, Glenview, Illinois 60026, or from SWANCC's website, www.swancc.org. 90 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) E.OTHER POSTEMPLOYMENT BENEFITS Plan description.The Village and Library provide postemployment health care and life insurance benefits at blended premium rates for retired employees through a cost-sharing defined benefit plan administered by the Village. The benefits, benefit levels, employee contributions, and employer contributions are governed by the Village and can be amended by the Village through its personnel manual and union contracts. The plan is funded on a pay-as-you-go basis and no assets are accumulated in a trust that meets the criteria in paragraph 4 of Statement No. 75. The plan does not issue a separate report. Contributions and benefits provided. The Village and Library provide continued health insurance coverage at the active employee rate to all eligible employees in accordance with ILCS, which creates an OPEB for retirees, commonly referred to as an implicit rate subsidy. To be eligible for benefits, an employee must qualify for retirement under the Village or Library's retirement plans. Elected officials are eligible for benefits if they qualify for retirement through the Illinois Municipal Retirement Fund. All health care benefits are provided through the Village's self-insured health plan. The benefit levels are the same as those afforded to active employees. Benefits include general inpatient and outpatient medical services; mental, nervous, and substance abuse care; vision care; dental care; and prescriptions. For Village and Library employees, upon a retiree reaching 65 years of age, Medicare becomes the primary insurer and the retiree is no longer eligible to participate in the plan. Retired employees are required to pay 100% of the premiums for such coverage. Total OPEB Liability. At December 31, 2020, the Village reported a liability for its proportionate share of the total OPEB liability of $12,717,494 and the Library reported a liability for its proportionate share of the total OPEB liability of $233,203. The total liability was measured as of December 31, 2020, and was determined by an actuarial valuation as of December 31, 2020. The proportions of the total OPEB liability were based on the share of OPEB cost between the Village and Library, as determined by the independent actuary, for the measurement year ended December 31, 2020. At December 31, 2020, the Village and Library's proportions were 98.20% and 1.80%, respectively. Actuarial assumptions and other inputs. The total OPEB liability in the December 31, 2020 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Health care participation rate 75% participation with 50% electing spouse coverage Healthcare cost trend rates Initial rate of 7.50%, grading down to the ultimate trend rate of 4.50% in 2029 Retirees' share of benefit-related costs 100%; The Village pays 100% of the cost of retiree and dependent coverage for disabled Police Officers and Firefighters receiving PSEBA benefits The discount rate was based on tax-exempt municipal bond rate based on an index of 20-year general obligation bonds with an average AA credit rating. 91 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) E.OTHER POSTEMPLOYMENT BENEFITS (cont.) Probabilities of death for participants were according to RP2014 Blue Collar base rates projected to 2020 using scale MP2020 for Police and Fire. For all others the RP2014 base rates projected to 2020 using scale MP2020 was used. No additional provision (besides those already embedded) were included for mortality improvements beyond 2018. The actuarial assumptions used in the December 31, 2020 valuation were based on the results of an actuarial experience study conducted by the independent actuary. Discount Rate. At December 31, 2020, the discount rate used to measure the total OPEB liability was a blended rate of 2.00%, which was a change from the December 31, 2019 rate of 2.75%. Since the plan is financed on a pay-as-you-go basis, the discount rate is based on the 20-year general obligation bond index. Changes in the Total OPEB Liability Total OPEB Liability Balances at December 31, 2019 $12,832,907 Changes for the year: Service cost 520,499 Interest 344,949 Changes of benefit terms (147,126) Differences between expected and actual experience (1,426,114) Changes in assumptions or other inputs 1,404,211 Benefit payments (578,629) Net changes 117,790 Balances at December 31, 2020 $12,950,697 Total OPEB liability - Village proportion $12,717,494 Total OPEB liability - Library proportion $233,203 Changes of assumptions and other inputs reflect a change in the discount rate from 2.75% for the reporting period ended December 31, 2019, to 2.00% for the reporting period ended December 31, 2020. 92 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) E.OTHER POSTEMPLOYMENT BENEFITS (cont.) Sensitivity of the total OPEB liability to changes in the discount rate.The following presents the total OPEB liability of the Village and Library, as well as what the Village and Library's total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (1.00 percent) or 1- percentage-point higher (2.00 percent) than the current discount rate: 1% Decrease Discount Rate 1% Increase (1.00%)(2.00%)(3.00%) Total OPEB liability - Village $14,037,357 $12,717,494 $11,558,994 Total OPEB liability - Library 246,510 233,203 219,533 Total OPEB liability $14,283,867 $12,950,697 $11,778,527 Sensitivity of the net OPEB liability to changes in the healthcare cost trend rates.The following presents the total OPEB liability of the Village and Library, as well as what the Village and Library's total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower ( 6.50 percent decreasing to 3.50 percent) or 1-percentage-point higher (8.50 percent decreasing to 5.50 percent) than the current healthcare cost trend rates: 1% Decrease (6.50% Decreasing to 3.50%) Healthcare Cost Trend Rates (7.50% Decreasing to 4.50%) 1% Increase (8.50% Decreasing to 5.50%) Total OPEB liability - Village $11,207,678 $12,717,494 $14,557,016 Total OPEB liability - Library 205,807 233,203 265,096 Total OPEB liability $ 11,413,485 $ 12,950,697 $ 14,822,112 93 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) E.OTHER POSTEMPLOYMENT BENEFITS (cont.) OPEB EXPENSE AND DEFERRED OUTFLOWS OF RESOURCES AND DEFERRED INFLOWS OF RESOURCES RELATED TO OPEB For the year ended December 31, 2020, the Village and Library recognized OPEB expense of $933,479. At December 31, 2020, the Village and Library reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Village: Difference between expected and actual experience $-$1,479,762 Assumption changes 3,116,654 - Total $ 3,116,654 $ 1,479,762 Glenview Library: Difference between expected and actual experience $-$27,135 Assumption changes 57,151 - Total $57,151 $27,135 Total: Difference between expected and actual experience $-$1,506,897 Assumption changes 3,173,805 - Total $ 3,173,805 $ 1,506,897 Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: Year Ending December 31,Village Glenview Library Total 2021 $211,283 $3,874 $215,157 2022 211,283 3,874 215,157 2023 211,283 3,874 215,157 2024 211,283 3,874 215,157 2025 211,283 3,874 215,157 Thereafter 580,477 10,646 591,123 Total $ 1,636,892 $30,016 $ 1,666,908 94 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) F. SUBSEQUENT EVENT The federal government passed the American Rescue Plan Act on March 11, 2021 to respond to the COVID-19 public health emergency and its negative economic impacts. Amounts were appropriated for fiscal year 2021 to units of local government to mitigate the fiscal effects stemming from the public health emergency. The Village expects to receive a material amount, which will be used to combat the negative effects of the public health emergency in the local economy. The Village anticipates receiving 50% of the funds in Summer 2021, with the remaining expected a year later. The funds can be used to cover costs incurred through December 31, 2024. G. TAX ABATEMENT Tax abatements are a reduction in tax revenues that results from an agreement between one or more governments and an individual or entity in which (a) one or more governments promise to forgo tax revenues to which they are otherwise entitled and (b) the individual or entity promises to take a specific action after the agreement has been entered into that contributes to economic development or otherwise benefits the governments or the citizens of those governments. The Village is disclosing all abatement agreements individually. In 2000, the Village entered into an economic development agreement with a local retailer who wished to relocate its operations to the Village. Under the terms of the agreement, the Village will rebate a portion of local sales tax receipts generated by the retailer over a base amount. The agreement is contingent on the retailer maintaining their facility within the Village for a period of at least fifteen years from the effective date of January 1, 2015 per the second addendum to the original agreement executed in 2000. In fiscal year 2020, the Village made payments to the retailer totaling $2,890,574 in accordance with the terms of this agreement. In 2014, a retailer finished construction of a new multi-vehicle brand dealership and opened its operation in the Village. Under an economic incentive agreement entered into by the Village and the retailer, every year upon the generation of a minimum amount of gross revenue through sales a portion of the local sales tax receipts received by the Village is rebated back to the retailer. In fiscal year 2020, the Village did not make a payment to the retailer as the minimum amount of gross revenue was not met in accordance with the terms of this agreement. Village property tax revenues are impacted by certain reduced assessments granted by the County of Cook in conjunction with the Village Board for the development or redevelopment of commercial and industrial properties. The properties receive a real estate tax incentive through a reduction in the assessment from the standard rate to a reduced rate for a period of time. Although tax revenues are not reduced in the whole, those properties receive a reduced bill. The total estimated impact of these incentives to the Village is a reduction in property taxes for those properties in the amount of $202,353. 95 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2020 NOTE IV - OTHER INFORMATION (cont.) H.EFFECT OF NEW ACCOUNTING STANDARDS ON CURRENT-PERIOD FINANCIAL STATEMENTS The Governmental Accounting Standards Board (GASB) has approved the following: Statement No. 87, Leases Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period Statement No. 91, Conduit Debt Obligations Statement No. 92, Omnibus 2020 Statement No. 93, Replacement of Interbank Offered Rates Statement No. 94, Public-Private and Public-Public Partnerships and Available Payment Arrangements Statement No. 96, Subscription-Based Information Technology Arrangements Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans - an amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32 When they become effective, application of these standards may restate portions of these financial statements. 96 R E Q U I R E D S U P P L E M E N T A R Y I N F O R M A T I O N See independent auditors' report and accompanying notes to required supplementary information97 Village Library Total Village Library Total Total pension liability Service cost 1,441,366$ 379,030$ 1,820,396$ 1,450,778$ 360,306$ 1,811,084$ Interest 6,215,187 472,222 6,687,409 5,875,309 1,459,156 7,334,465 Differences between expected and actual experience 1,054,984 277,425 1,332,409 71,975 17,875 89,850 Changes of assumptions 2,594,608 682,293 3,276,901 107,863 26,788 134,651 Benefit payments, including refunds of member contributions (3,299,534) (867,665) (4,167,199) (3,638,198) (903,561) (4,541,759) Net change in total pension liability 8,006,611 943,305 8,949,916 3,867,727 960,564 4,828,291 Total pension liability - beginning 71,529,140 18,809,714 90,338,854 79,535,751 19,753,019 99,288,770 Total pension liability - ending 79,535,751$ 19,753,019$ 99,288,770$ 83,403,478$ 20,713,583$ 104,117,061$ Plan fiduciary net position Employer contributions 1,714,020$ 450,728$ 2,164,748$ 1,754,574$ 435,755$ 2,190,329$ Employee contributions 578,749 152,191 730,940 532,041 248,514 780,555 Net investment income 5,000,601 152,829 5,153,430 354,242 87,978 442,220 Benefit payments, including refunds of member contributions (3,299,534) (867,665) (4,167,199) (3,638,198) (903,561) (4,541,759) Other (net transfer)181,595 47,753 229,348 444,375 110,362 554,737 Net change in plan fiduciary net position 4,175,431 (64,164) 4,111,267 (552,966) (20,952) (573,918) Plan fiduciary net position - beginning 67,395,507 17,722,710 85,118,217 71,570,938 17,658,546 89,229,484 Plan fiduciary net position - ending 71,570,938$ 17,658,546$ 89,229,484$ 71,017,972$ 17,637,594$ 88,655,566$ Employer's net pension (asset) liability 7,964,813$ 2,094,473$ 10,059,286$ 12,385,506$ 3,075,989$ 15,461,495$ Plan fiduciary net position as a percentage of the total pension liability 89.87%85.15% Covered payroll 16,154,258$ 17,008,659$ Employer's net pension (asset) liability as a percentage of covered payroll 62.27%90.90% Notes to Schedule: 2015 2016 The Village implemented GASB Statement No. 68 in fiscal year 2015. Information prior to fiscal year 2015 is not available. The Village utilizes the IMRF report as of the prior fiscal year end date. VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS Last Six Fiscal Years See independent auditors' report and accompanying notes to required supplementary information98 Village Library Total Village Library Total 1,364,711$ 360,098$ 1,724,809$ 1,354,683$ 363,346$ 1,718,029$ 6,067,722 1,601,054 7,668,776 6,284,484 1,685,590 7,970,074 (459,967) 70,733 (389,234) (2,169,603) 573,104 (1,596,499) (215,882) (56,963) (272,845) (2,669,227) (715,925) (3,385,152) (3,886,045) (1,025,388) (4,911,433) (4,241,230) (815,755) (5,056,985) 2,870,539 949,534 3,820,073 (1,440,893) 1,090,360 (350,533) 83,403,478 20,713,583 104,117,061 86,274,017 21,663,117 107,937,134 86,274,017$ 21,663,117$ 107,937,134$ 84,833,124$ 22,753,477$ 107,586,601$ 1,666,519$ 439,734$ 2,106,253$ 1,637,281$ 439,142$ 2,076,423$ 601,714 158,771 760,485 578,252 155,095 733,347 4,863,653 1,283,344 6,146,997 12,166,520 4,368,532 16,535,052 (3,886,045) (1,025,388) (4,911,433) (4,241,230) (815,755) (5,056,985) 578,779 152,719 731,498 (1,972,898) (529,160) (2,502,058) 3,824,620 1,009,180 4,833,800 8,167,925 3,617,854 11,785,779 71,017,972 17,637,594 88,655,566 74,842,592 18,646,774 93,489,366 74,842,592$ 18,646,774$ 93,489,366$ 83,010,517$ 22,264,628$ 105,275,145$ 11,431,425$ 3,016,343$ 14,447,768$ 1,822,607$ 488,849$ 2,311,456$ 86.61%97.85% 16,327,538$ 16,293,001$ 88.49%14.19% 20182017 See independent auditors' report and accompanying notes to required supplementary information99 Village Library Total Village Library Total Total pension liability Service cost 1,236,773$ 340,839$ 1,577,612$ 1,273,811$ 353,317$ 1,627,128$ Interest 6,213,224 1,712,289 7,925,513 6,510,753 1,805,888 8,316,641 Differences between expected and actual experience 1,385,572 395,285 1,780,857 (182,384) 112,564 (69,820) Changes of assumptions 2,593,209 714,657 3,307,866 - - - Benefit payments, including refunds of member contributions (4,716,152) (687,656) (5,403,808) (4,502,880) (1,248,964) (5,751,844) Net change in total pension liability 6,712,626 2,475,414 9,188,040 3,099,300 1,022,805 4,122,105 Total pension liability - beginning 84,833,124 22,753,477 107,586,601 91,545,750 25,228,891 116,774,641 Total pension liability - ending 91,545,750$ 25,228,891$ 116,774,641$ 94,645,050$ 26,251,696$ 120,896,746$ Plan fiduciary net position Employer contributions 1,613,034$ 444,532$ 2,057,566$ 1,227,435$ 340,453$ 1,567,888$ Employee contributions 575,274 158,539 733,813 574,253 159,281 733,534 Net investment income (4,546,579) (1,252,982) (5,799,561) 14,577,831 4,181,868 18,759,699 Benefit payments, including refunds of member contributions (4,716,152) (687,656) (5,403,808) (4,502,880) (1,248,964) (5,751,844) Other (net transfer)1,729,313 476,577 2,205,890 (259,926) (72,096) (332,022) Net change in plan fiduciary net position (5,345,110) (860,990) (6,206,100) 11,616,713 3,360,542 14,977,255 Plan fiduciary net position - beginning 83,010,517 22,264,628 105,275,145 77,665,407 21,403,638 99,069,045 Plan fiduciary net position - ending 77,665,407$ 21,403,638$ 99,069,045$ 89,282,120$ 24,764,180$ 114,046,300$ Employer's net pension (asset) liability 13,880,343$ 3,825,253$ 17,705,596$ 5,362,930$ 1,487,516$ 6,850,446$ Plan fiduciary net position as a percentage of the total pension liability 84.84%94.33% Covered payroll 16,306,927$ 16,273,002$ Employer's net pension (asset) liability as a percentage of covered payroll 108.58%42.10% VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS Last Six Fiscal Years 20202019 See independent auditors' report and accompanying notes to required supplementary information100 Village Library Total Village Library Total Actuarially determined contribution 1,699,565$ 446,928$ 2,146,493$ 1,687,223$ 419,029$ 2,106,252$ Contributions in relation to the actuarially determined contribution (1,734,274) (456,055) (2,190,329) (1,687,224) (419,029) (2,106,253) Contribution deficiency (excess)(34,709)$ (9,127)$ (43,836)$ (1)$ -$ (1)$ Covered payroll 17,008,659$ 16,327,538$ Contributions as a percentage of covered payroll 12.88%12.90% Notes to Schedule:The Village implemented GASB Statement No. 68 in fiscal year 2015. Information prior to fiscal year 2014 is not available. Valuation date: Actuarially determined contribution rates are calculated as of December 31. Methods and assumptions used to determine contribution rates: Actuarial cost method Amortization method Remaining amortization period Asset valuation method Inflation 2.50% Salary increases Investment rate of return 7.50% Retirement Age Mortality Other information: There were no benefit changes during the year. 2015 3.35% to 14.25% including inflation Entry age normal Level percentage of payroll, closed 23-year closed period 5-Year Smoothed Market; 20% corridor IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Six Fiscal Years 2016 Experience-based table of rates that are specific to the type of eligibility condition. Last updated for the 2017 valuation pursuant to an experience study of the period 2014-2016. See independent auditors' report and accompanying notes to required supplementary information101 Village Library Total Village Library Total Village Library Total 1,606,360$ 427,007$ 2,033,367$ 1,579,391$ 419,838$ 1,999,229$ 1,210,906$ 341,538$ 1,552,444$ (1,640,374) (436,049) (2,076,423) (1,625,477) (432,089) (2,057,566) (1,222,953) (344,935) (1,567,888) (34,014)$ (9,042)$ (43,056)$ (46,086)$ (12,251)$ (58,337)$ (12,046)$ (3,398)$ (15,444)$ 16,293,001$ 16,306,927$ 16,273,002$ 12.74%12.62%9.63% 2018 20192017 See independent auditors' report and accompanying notes to required supplementary information102 Village Library Total Actuarially determined contribution 1,632,047$ 460,321$ 2,092,368$ Contributions in relation to the actuarially determined contribution (1,669,618) (470,918) (2,140,536) Contribution deficiency (excess)(37,571)$ (10,597)$ (48,168)$ Covered payroll 17,052,712$ Contributions as a percentage of covered payroll 12.55% VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Six Fiscal Years 2020 See independent auditors' report and notes to required supplementary information. 103 VILLAGE OF GLENVIEW POLICE PENSION FUND SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS Last Seven Fiscal Years 2014 2015 Total pension liability Service cost 1,674,658$ 2,025,748$ Interest 5,490,500 6,368,405 Differences between expected and actual experience - (4,142,795) Changes of assumptions - 898,895 Changes of benefit terms - - Contributions - buy back - 49,495 Benefit payments, including refunds of member contributions (3,274,551) (3,665,231) Net change in total pension liability 3,890,607 1,534,517 Total pension liability - beginning 86,893,481 90,784,088 Total pension liability - ending (a)90,784,088$ 92,318,605$ Plan fiduciary net position Employer contributions 1,953,494$ 7,494,545$ Employee contributions 686,942 728,210 Buy back contributions - 49,495 Net investment income 2,799,434 (2,979) Benefit payments, including refunds of member contributions (3,274,551) (3,665,231) Administration (45,490) (51,118) Net change in plan fiduciary net position 2,119,829 4,552,922 Plan fiduciary net position - beginning 62,083,784 64,203,613 Plan fiduciary net position - ending (b)64,203,613$ 68,756,535$ Village's net pension liability - ending (a) - (b)26,580,475$ 23,562,070$ Plan fiduciary net position as a percentage of the total pension liability 70.72%74.48% Covered payroll 7,055,218$ 6,985,724$ Village's net pension liability as a percentage of covered payroll 376.75%337.29% Notes to Schedule: Changes of assumptions. For measurement date December 31, 2016, the discount rate was changed from 7.00% as of December 31, 2015 to 6.75% as of December 31, 2016. The Pension implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is not available. See independent auditors' report and notes to required supplementary information. 104 2016 2017 2018 2019 2020 1,601,139$ 1,751,973$ 1,647,496$ 1,576,413$ 1,684,161$ 6,436,190 6,727,271 7,022,152 7,384,510 7,685,020 215,928 386,681 137,917 347,289 3,605,445 3,376,901 - 1,409,870 - - - - - 317,248 - - - 56,462 - - (3,948,281) (4,178,350) (4,607,357) (5,015,959) (5,592,217) 7,681,877 4,687,575 5,666,540 4,609,501 7,382,409 92,318,605 100,000,482 104,688,057 110,354,597 114,964,098 100,000,482$ 104,688,057$ 110,354,597$ 114,964,098$ 122,346,507$ 2,497,041$ 2,492,386$ 2,470,705$ 2,460,430$ 3,466,223$ 812,961 712,431 695,012 701,306 1,397,725 - - 56,462 - 3,937,691 8,439,097 (3,589,649) 12,903,405 8,655,205 (3,948,281) (4,178,350) (4,607,357) (5,015,959) (5,592,217) (50,482) (57,057) (61,122) (56,856) (87,612) 3,248,930 7,408,507 (5,035,949) 10,992,326 7,839,324 68,756,535 72,005,465 79,413,972 74,378,023 85,370,349 72,005,465$ 79,413,972$ 74,378,023$ 85,370,349$ 93,209,673$ 27,995,017$ 25,274,085$ 35,976,574$ 29,593,749$ 29,136,834$ 72.01%75.86%67.40%74.26%76.18% 7,123,493$ 6,890,888$ 6,725,646$ 6,908,778$ 7,233,592$ 393.00%366.78%534.92%428.35%402.80% See independent auditors' report and notes to required supplementary information. 105 VILLAGE OF GLENVIEW POLICE PENSION FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Ten Fiscal Years 2011 2012 2013 2014 Actuarially determined contribution 1,347,587$ 1,569,531$ 1,812,556$ 1,921,637$ Contributions in relation to the actuarially determined contribution 1,767,986 1,812,692 1,632,373 1,953,494 Contribution deficiency (excess)(420,399)$ (243,161)$ 180,183$ (31,857)$ Covered payroll 6,091,656$ 6,136,593$ 6,359,627$ 7,055,218$ Contributions as a percentage of covered payroll 29.02%29.54%25.67%27.69% Notes to Schedule: Valuation date: Actuarially determined contributions are calculated as of December 31 of the current fiscal year. Methods and assumptions used to determine contribution rates: Actuarial cost method Amortization method Asset valuation method Inflation Salary increases Investment rate of return Mortality Mortality rates were based on the RP-2000 Combined Healthy Mortality with blue collar adjustment, projected to the valuation date using Scale BB. The Plan implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is derived from actuarial valuations developed in conformity with GASB Statement No. 25 and 27. Entry-age normal Level percentage of payroll, closed 5-year Smoothed Market Value Age based from 3.62% to 7.36% 2.50% 6.75%, net of pension plan investment expense, including inflation See independent auditors' report and notes to required supplementary information. 106 2015 2016 2017 2018 2019 2020 1,957,880$ 3,224,497$ 2,337,883$ 2,448,164$ 2,448,009$ 3,428,510$ 7,494,545 2,497,041 2,492,386 2,470,705 2,460,430 3,466,223 (5,536,665)$ 727,456$ (154,503)$ (22,541)$ (12,421)$ (37,713)$ 6,985,724$ 7,123,493$ 6,890,888$ 6,725,646$ 6,908,778$ 7,233,592$ 107.28%35.05%36.17%36.74%35.61%47.92% See independent auditors' report and notes to required supplementary information.107 VILLAGE OF GLENVIEW POLICE PENSION FUND SCHEDULE OF INVESTMENT RETURNS Last Seven Fiscal Years 2014 2015 2016 2017 2018 2019 2020 Annual money-weighted rate of return, net of investment expense 4.58%0.06%5.80%11.99%-4.63%17.83%10.46% Notes to Schedule: The Pension implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is not available. See independent auditors' report and notes to required supplementary information. 108 2014 2015 Total pension liability Service cost 1,977,800$ 1,761,875$ Interest 7,079,887 7,367,177 Differences between expected and actual experience - 2,444,216 Changes of assumptions - 2,698,985 Changes of benefit terms - - Benefit payments, including refunds of member contributions (4,862,207) (5,327,947) Net change in total pension liability 4,195,480 8,944,306 Total pension liability - beginning 100,084,722 104,280,202 Total pension liability - ending (a)104,280,202$ 113,224,508$ Plan fiduciary net position Employer contributions 3,134,768$ 10,309,348$ Employee contributions 751,554 750,195 Other contributions - - Net investment income 4,274,117 817,749 Benefit payments, including refunds of member contributions (4,862,207) (5,327,947) Administration (44,601) (82,809) Net change in plan fiduciary net position 3,253,631 6,466,536 Plan fiduciary net position - beginning 62,072,386 65,326,017 Plan fiduciary net position - ending (b)65,326,017$ 71,792,553$ Village's net pension liability - ending (a) - (b)38,954,185$ 41,431,955$ Plan fiduciary net position as a percentage of the total pension liability 62.64%63.41% Covered payroll 7,058,973$ 7,926,515$ Village's net pension liability as a percentage of covered payroll 551.84%522.70% Notes to Schedule: The Pension implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is not available. VILLAGE OF GLENVIEW FIREFIGHTERS' PENSION FUND SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS Last Seven Fiscal Years See independent auditors' report and notes to required supplementary information. 109 2016 2017 2018 2019 2020 1,890,273$ 2,022,592$ 2,086,295$ 2,172,435$ 2,303,849$ 7,728,761 8,377,782 8,688,900 8,994,385 9,665,126 (2,178,162) 2,444 (229,937) 1,445,323 765,410 7,605,249 - - 1,494,281 676,347 - - - 801,181 - (5,627,277) (5,921,500) (5,995,055) (6,367,259) (7,065,542) 9,418,844 4,481,318 4,550,203 8,540,346 6,345,190 113,224,508 122,643,352 127,124,670 131,674,873 140,215,219 122,643,352$ 127,124,670$ 131,674,873$ 140,215,219$ 146,560,409$ 4,016,250$ 3,839,494$ 4,048,725$ 4,036,671$ 5,141,206$ 782,515 783,767 814,043 868,289 926,080 - 18,091 - - - 4,765,957 10,455,191 (3,987,265) 15,426,067 14,045,114 (5,627,277) (5,921,500) (5,995,055) (6,367,259) (7,065,542) (68,045) (69,391) (69,772) (71,393) (92,726) 3,869,400 9,105,652 (5,189,324) 13,892,375 12,954,132 71,792,553 75,661,953 84,767,605 79,578,281 93,470,656 75,661,953$ 84,767,605$ 79,578,281$ 93,470,656$ 106,424,788$ 46,981,399$ 42,357,065$ 52,096,592$ 46,744,563$ 40,135,621$ 61.69%66.68%60.44%66.66%72.61% 8,077,068$ 8,359,765$ 8,587,330$ 8,866,418$ 9,183,715$ 581.66%506.68%606.67%527.21%437.03% See independent auditors' report and notes to required supplementary information. 110 2011 2012 2013 2014 Actuarially determined contribution 2,160,105$ 2,420,075$ 2,985,212$ 2,733,414$ Contributions in relation to the actuarially determined contribution 2,806,961 2,926,010 3,116,164 3,134,768 Contribution deficiency (excess)(646,856)$ (505,935)$ (130,952)$ (401,354)$ Covered payroll 6,926,020$ 6,439,694$ 6,737,119$ 7,058,973$ Contributions as a percentage of covered payroll 40.53%45.44%46.25%44.41% Notes to Schedule: Valuation date: Actuarially determined contributions are calculated as of December 31 of the current fiscal year. Methods and assumptions used to determine contribution rates: Actuarial cost method Amortization method Asset valuation method Inflation Salary increases Investment rate of return Retirement rates 115% of L&A 2016 Illinois Firefighters Retirement Rates Capped at age 62 Mortality RP-2014 Adjusted for Plan Status, Collar, and Illinois Public Pension Data, as Appropriate 4.00 - 7.50% 7.00% Entry-age normal The Plan implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is derived from actuarial valuations developed in conformity with GASB Statement No. 25 and 27. 5-year Smoothed Market Value 2.50% VILLAGE OF GLENVIEW Last Ten Fiscal Years FIREFIGHTERS' PENSION FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Level dollar See independent auditors' report and notes to required supplementary information. 111 2015 2016 2017 2018 2019 2020 3,739,508$ 3,974,237$ 3,590,168$ 4,011,045$ 4,027,492$ 5,112,536$ 10,309,348 4,016,250 3,839,494 4,048,725 4,036,671 5,141,206 (6,569,840)$ (42,013)$ (249,326)$ (37,680)$ (9,179)$ (28,670)$ 7,926,515$ 8,077,068$ 8,359,765$ 8,587,330$ 8,866,418$ 9,183,715$ 130.06%49.72%45.93%47.15%45.53%55.98% See independent auditors' report and notes to required supplementary information.112 VILLAGE OF GLENVIEW FIREFIGHTERS' PENSION FUND SCHEDULE OF INVESTMENT RETURNS Last Seven Fiscal Years 2014 2015 2016 2017 2018 2019 2020 Annual money-weighted rate of return, net of investment expense 6.95%1.19%6.64%13.82%-4.72%19.41%15.04% Notes to Schedule: The Pension implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is not available. 2018 2019 2020 Total OPEB liability Service cost 387,795$ 413,854$ 520,499$ Interest 342,521 436,424 344,949 Changes of benefit terms - - (147,126) Differences between expected and actual experience (321,493) - (1,426,114) Changes of assumptions 857,650 1,638,770 1,404,211 Benefit payments, including refunds of member contributions (556,720) (601,258) (578,629) Net change in total OPEB liability 709,753 1,887,790 117,790 Total OPEB liability - beginning 10,235,364 10,945,117 12,832,907 Total OPEB liability - ending 10,945,117$ 12,832,907$ 12,950,697$ Plan fiduciary net position as a percentage of the total OPEB liability 0.00%0.00%0.00% Covered payroll 24,845,812$ 25,591,186$ 26,451,923$ Village's total OPEB liability as a percentage of covered payroll 44.05%50.15%48.96% Notes to Schedule: VILLAGE OF GLENVIEW The Village implemented GASB Statement No. 75 in fiscal year 2018. Information prior to fiscal year 2018 is not available. The information presented above includes the total OPEB liability for the Village and Library. Last Three Fiscal Years AND RELATED RATIOS SCHEDULE OF CHANGES IN THE TOTAL OPEB LIABILITY OTHER POSTEMPLOYMENT BENEFIT PLAN See independent auditors' report and notes to required supplementary information. 113 GOVERNMENTAL FUND DESCRIPTIONS MAJOR GENERAL AND SPECIAL REVENUE FUNDS Note that summaries of the General Fund and the major special revenue funds are provided in the required supplementary information section. General Fund -a governmental fund used to account for the acquisition and use of resources which are not accounted for in other fund types. Special Tax Allocation Fund -a special revenue fund used to account for the incremental property tax revenue that is generated through the growth of the assessed valuation at The Glen, (formerly referred to as Glenview Naval Air Station) and the 'Make-Whole' payments to core jurisdictions within the boundaries of the Tax Increment District. The core jurisdictions consist of: the Village of Glenview, School District 34, School District 225, the Glenview Park District, and the Glenview Public Library, a component unit of the Village. This fund also accounts for the service and incentive fees within the Tax Increment District. VILLAGE OF GLENVIEW SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual Variance with Final Budget 2019 Actual REVENUES TAXES Property $12,442,054 $12,442,054 $12,373,133 $(68,921)$12,229,219 Other Taxes 15,602,687 15,602,687 13,865,655 (1,737,032)15,342,199 Licenses and Permits 2,941,109 2,941,109 2,114,688 (826,421)1,871,593 Charges for Services 13,262,794 13,262,794 12,505,652 (757,142)12,838,698 Fines, Forfeitures and Penalties 146,778 146,778 93,008 (53,770)121,707 Intergovernmental 29,345,953 29,345,953 30,795,110 1,449,157 30,326,296 Investment Income 657,400 657,400 386,893 (270,507)881,907 Total Revenues 74,398,775 74,398,775 72,134,139 (2,264,636)73,611,619 EXPENDITURES Current: General Government 20,541,198 20,318,848 18,131,771 2,187,077 18,570,611 Public Works 8,161,693 8,208,536 7,552,623 655,913 7,772,011 Public Safety 33,790,685 33,885,452 34,319,424 (433,972)31,148,857 Development 3,685,139 3,765,879 3,306,974 458,905 3,186,049 Capital Outlay ----11,877 Total Expenditures 66,178,715 66,178,715 63,310,792 2,867,923 60,689,405 Excess of Revenues over Expenditures 8,220,060 8,220,060 8,823,347 603,287 12,922,214 OTHER FINANCING SOURCES (USES) Property Sales ----48,755 Transfers In 575,000 575,000 575,000 -589,257 Transfers Out (13,209,982)(13,209,982)(12,260,749)949,233 (12,982,228) Total Other Financing Sources (Uses)(12,634,982)(12,634,982)(11,685,749)949,233 (12,344,216) Net Change in Fund Balance $(4,414,922)$(4,414,922)(2,862,402)$1,552,520 577,998 FUND BALANCE - Beginning of Year 36,473,318 35,895,320 FUND BALANCE - END OF YEAR $33,610,916 $36,473,318 See independent auditors' report and accompanying notes to required supplementary information. 114 VILLAGE OF GLENVIEW SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - SPECIAL TAX ALLOCATION FUND - MAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual Variance with Final Budget 2019 Actual REVENUES Property Taxes - Incremental $35,098,875 $35,098,875 $38,205,898 $3,107,023 $35,174,563 Intergovernmental - Miscellaneous 100,641 100,641 142,212 41,571 189,100 Charges for Services 204,360 204,360 204,360 -204,506 Investment Income 534,800 534,800 315,075 (219,725)822,740 Miscellaneous ----163,023 Total Revenues 35,938,676 35,938,676 38,867,545 2,928,869 36,553,932 EXPENDITURES General Government Personnel 348,222 348,222 380,776 (32,554)342,678 Contractual Services 21,577,192 21,577,192 21,248,044 329,148 22,059,834 Commodities 84,789 84,789 50,757 34,032 54,410 Other Charges 243,618 243,618 243,094 524 242,436 Total general government 22,253,821 22,253,821 21,922,671 331,150 22,699,358 Debt Service Principal 6,030,000 6,030,000 6,030,000 -7,155,938 Interest and Fiscal Charges 429,825 429,825 531,247 (101,422)979,184 TotalExpenditures 28,713,646 28,713,646 28,483,918 229,728 30,834,480 Excess of Revenues over Expenditures 7,225,030 7,225,030 10,383,627 3,158,597 5,719,452 OTHER FINANCING SOURCES (USES) Transfers Out ----(86,196) Total Other Financing Sources (Uses)----(86,196) Net Change in Fund Balance $7,225,030 $7,225,030 10,383,627 $3,158,597 5,633,256 FUND BALANCE (DEFICIT) - Beginning of Year 2,862,806 (2,770,450) FUND BALANCE - END OF YEAR $13,246,433 $2,862,806 See independent auditors' report and notes to required supplementary information. 115 VILLAGE OF GLENVIEW NOTES TO REQUIRED SUPPLEMENTARY INFORMATION For the Year Ended December 31, 2020 BUDGETARY INFORMATION Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all governmental funds. The enterprise, internal service, and pension trust funds are adopted on the accrual basis, except principal expense and capital expenditures are budgeted, and depreciation expense is not budgeted. The budget is as amended by the Board of Trustees. All annual appropriations lapse at fiscal year end. 1.All departments of the Village submit requests for budget to the Village's manager so that a budget may be prepared. The budget is prepared by fund and includes information on the past year, current estimates, and requested budgets for the next fiscal year. 2.The proposed budget is presented to the governing body, the Village Board, for review. The Village Board holds public hearings and may add to, subtract from, or change budgets, but may not change the form of the budget. 3.The budget is legally enacted by the Board of Trustees. 4.The Village Manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures/expenses of any fund must be approved by the Village Board. 5.The level of control (the level at which expenditures may not exceed the budget) is at the fund level. Expenditures may not legally exceed budgets at the fund level. See independent auditors' report. 116 S U P P L E M E N T A R Y I N F O R M A T I O N 117 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual LOCAL TAXES 305,508$ 305,508$ 305,731$ 2,698,415$ (36,000) (36,000) (23,788) (29,389) Property Taxes for Village Current Year Prior Year Property Taxes - Debt Service Current Year 1,850,206 1,850,206 1,849,582 1,837,615 Prior Year (40,000) (40,000) (19,887) (27,230) Property Taxes - Police and Firefighters' Pension 8,709,304 8,709,304 8,607,430 6,497,101 Property Taxes - Other Village Pensions 1,653,036 1,653,036 1,654,065 1,252,707 Total Property Taxes 12,442,054 12,442,054 12,373,133 12,229,219 Other Taxes Utility Taxes Natural Gas 1,503,901 1,503,901 1,351,213 1,545,899 Electricity 2,173,060 2,173,060 2,042,277 2,104,169 Telecommunications 1,520,693 1,520,693 1,283,383 1,526,415 Hotel Room Tax 1,313,814 1,313,814 483,874 1,250,053 Amusement Tax 110,000 110,000 8,861 99,781 Home Rule Sales Tax 8,938,219 8,938,219 8,630,650 8,756,960 Business District Tax 42,000 42,000 65,397 58,922 Miscellaneous Tax 1,000 1,000 - - Total Other Taxes 15,602,687 15,602,687 13,865,655 15,342,199 Total Local Taxes 28,044,741 28,044,741 26,238,788 27,571,418 LICENSES AND PERMITS Business Licenses 28,350 28,350 18,070 37,815 Liquor Licenses 200,000 200,000 213,842 203,696 Building Permits 2,451,043 2,451,043 1,603,418 1,438,692 Contractor's Fees 25,000 25,000 9,475 10,620 Engineering Fees 212,716 212,716 245,759 148,217 Oversized Vehicle Permits 16,000 16,000 22,040 24,830 Plan Fees 8,000 8,000 2,084 7,723 Total Licenses and Permits 2,941,109 2,941,109 2,114,688 1,871,593 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES For the Year Ended December 31, 2020 2020 Budgeted Amounts 118 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES For the Year Ended December 31, 2020 2020 Budgeted Amounts CHARGES FOR SERVICES Dog Impound Fees 1,000$ 1,000$ 620$ 1,080$ Lease Fees 938,567 938,567 795,291 829,550 Natural Gas Franchise Fees 35,449 35,449 37,174 35,449 Cable Franchise Fees 800,000 800,000 790,761 815,311 Bidder Fees 1,000 1,000 - - Development Fees - - 4,350 86,196 Insurance Reimbursements 1,739,864 1,739,864 1,625,502 1,879,751 Copies 3,500 3,500 14 - Special Event Fees 1,000 1,000 1,125 975 Inspection Fees 42,000 42,000 13,920 33,120 Refuse and Recycling Charges Yard Waste Sticker Sales 3,500 3,500 2,205 3,625 Tipping Fees 890,000 890,000 887,299 887,608 Joint Dispatch Charges 911 Surcharge 1,020,000 1,020,000 1,052,479 1,050,063 Fire Communication 15,889 15,889 - - Dispatch Services 7,153,666 7,153,666 6,790,874 6,516,047 Other Service Charges Police Extra Duty 235,400 235,400 145,238 215,692 Fire Extra Duty - - - 8,775 Reimbursements 60,000 60,000 66,952 50,229 Other Charges - Supervision 8,069 8,069 429 2,922 Miscellaneous 67,939 67,939 47,593 178,810 Administrative Fees for Governmental Funds Library Fund 129,724 129,724 126,409 125,851 SWANCC Host Community Fees 116,227 116,227 117,417 117,644 Total Charges for Services 13,262,794 13,262,794 12,505,652 12,838,698 FINES AND FORFEITURES Traffic Fines 100,000 100,000 63,896 62,958 Other Fines 46,778 46,778 29,112 58,749 Total Fines and Forfeitures 146,778 146,778 93,008 121,707 119 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES For the Year Ended December 31, 2020 2020 Budgeted Amounts INTERGOVERNMENTAL Glenbrook Fire Protection District 2,250,000$ 2,250,000$ 2,335,000$ 2,230,919$ Village of Golf Fire Protection Services 143,000 143,000 143,000 143,000 Road and Bridge Taxes Current Year 385,946 385,946 459,115 487,719 Prior Year (4,500) (4,500) (6,632) (5,220) Sales Tax 18,252,721 18,252,721 18,206,509 18,631,360 Property Replacement Tax 213,000 213,000 227,358 248,039 Illinois Income Tax 4,907,700 4,907,700 5,147,028 5,014,901 Local Use Tax 1,495,680 1,495,680 2,040,735 1,577,084 Make-Whole Payment 1,636,528 1,636,528 1,614,249 1,631,339 Cannabis Use Tax - - 36,454 - Other Intergovernmental Grant Proceeds 65,878 65,878 592,294 367,155 Total Intergovernmental 29,345,953 29,345,953 30,795,110 30,326,296 INVESTMENT INCOME Investment Income 565,000 565,000 302,855 777,745 Interest - Savings 92,400 92,400 84,038 104,162 Total Investment Income 657,400 657,400 386,893 881,907 OTHER FINANCING SOURCES Property Sales - - - 48,755 Transfers In Wholesale Water Fund 325,000 325,000 325,000 325,000 Insurance and Risk Fund 250,000 250,000 250,000 250,000 Corporate Purpose Bonds Fund - - - 14,257 Total Other Financing Sources 575,000 575,000 575,000 638,012 Total Revenues and Other Financing Sources 74,973,775$ 74,973,775$ 72,709,139$ 74,249,631$ 120 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual GENERAL GOVERNMENT Village Board of Trustees President and Board Personnel -$ -$ -$ 9,391$ Contractual Services - - 794 46,992 Total President and Board - - 794 56,383 Special Board Appropriations Personnel 78,316 78,316 5,451 59,419 Contractual Services 397,995 397,995 347,370 326,723 Commodities 1,600 1,600 - 1,116 Total Special Board Appropriations 477,911 477,911 352,821 387,258 Total Village Board of Trustees 477,911 477,911 353,615 443,641 Village Manager's Office Administration Division Personnel 693,155 739,134 774,903 710,370 Contractual Services 159,343 159,343 119,756 191,768 Commodities 2,000 2,000 1,735 1,674 Other Charges 28,665 28,665 4,045 4,314 Total Administration Division 883,163 929,142 900,439 908,126 Human Resources Division Personnel 670,846 334,754 284,325 260,418 Contractual Services 12,629 12,629 4,938 36,282 Commodities 729 729 55 907 Other Charges 1,233,613 1,233,613 1,154,540 1,345,730 Total Human Resources Division 1,917,817 1,581,725 1,443,858 1,643,337 Communications Division Personnel 272,105 280,019 292,029 205,920 Contractual Services 89,570 89,570 92,448 88,396 Commodities 2,250 2,250 2,157 1,538 Other Charges 3,100 3,100 325 387 Total Communications Division 367,025 374,939 386,959 296,241 Legal Division Contractual Services 468,250 468,250 481,010 455,710 Total Legal Division 468,250 468,250 481,010 455,710 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2020 2020 Budgeted Amounts 121 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2020 2020 Budgeted Amounts GENERAL GOVERNMENT (cont.) Village Manager's Office (cont.) Joint Dispatch Division Personnel 6,231,402$ 6,271,998$ 5,878,827$ 5,727,288$ Contractual Services 696,784 696,784 200,418 260,996 Commodities 32,700 32,700 30,505 25,657 Other Charges 360,529 360,529 308,917 639,030 Total Joint Dispatch Division 7,321,415 7,362,011 6,418,667 6,652,971 Total Village Manager's Office 10,957,670 10,716,067 9,630,933 9,956,385 Administrative Services Administration Personnel 226,230 241,524 249,663 280,748 Contractual Services 3,163 3,163 2,596 3,590 Other Charges 10,915 10,915 95 3,129 Total Administration 240,308 255,602 252,354 287,467 Finance Personnel 426,026 435,465 421,421 447,058 Contractual Services 1,105,259 1,105,259 1,070,341 1,054,393 Commodities 900 900 906 3,322 Other Charges 5,830 5,830 1,297 3,052 Total Finance 1,538,015 1,547,454 1,493,965 1,507,825 General Government Personnel (70,000) (70,000) - - Contractual Services 3,190,750 3,190,750 3,079,278 3,052,160 Commodities 53,625 53,625 40,846 80,896 Other Charges 695,435 680,935 290,695 209,220 Total General Government 3,869,810 3,855,310 3,410,819 3,342,276 Resolution Center Personnel 444,755 453,775 410,371 363,658 Other Charges 1,880 1,880 5 1,252 Total Resolution Center 446,635 455,655 410,376 364,910 122 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2020 2020 Budgeted Amounts GENERAL GOVERNMENT (cont.) Administrative Services (cont.) CADD Operations Contractual Services 221,682$ 221,682$ 185,619$ 213,193$ Total CADD Operations 221,682 221,682 185,619 213,193 Information Technology (IT) Contractual Services 2,255,821 2,255,821 1,911,866 1,922,106 Commodities 117,584 117,584 75,768 97,002 Other Charges 415,762 415,762 406,456 435,806 Total Information Technology 2,789,167 2,789,167 2,394,090 2,454,914 Total Administrative Services 9,105,617 9,124,870 8,147,223 8,170,585 Total General Government 20,541,198 20,318,848 18,131,771 18,570,611 PUBLIC WORKS Public Works Department Personnel 2,292,966 2,339,809 2,257,371 2,242,731 Contractual Services 3,455,793 3,455,793 3,264,135 3,097,023 Commodities 1,221,661 1,221,661 1,161,640 1,073,902 Other Charges 991,273 991,273 811,363 1,140,584 Capital Outlay 200,000 200,000 58,114 217,771 Total Public Works Department 8,161,693 8,208,536 7,552,623 7,772,011 PUBLIC SAFETY Police Department Personnel 10,379,083 10,446,634 10,105,227 9,999,827 Contractual Services 660,640 660,640 550,945 585,967 Commodities 139,130 139,130 124,613 115,393 Other Charges 4,013,417 4,013,417 3,899,550 2,901,429 Total Police Department 15,192,270 15,259,821 14,680,335 13,602,616 Fire Department Personnel 11,498,043 11,525,259 12,718,156 11,766,517 Contractual Services 270,520 270,520 262,419 313,988 Commodities 285,613 285,613 334,140 224,925 Other Charges 6,544,239 6,544,239 6,324,374 5,240,811 Total Fire Department 18,598,415 18,625,631 19,639,089 17,546,241 Total Public Safety 33,790,685 33,885,452 34,319,424 31,148,857 123 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2020 2020 Budgeted Amounts COMMUNITY DEVELOPMENT Community Development Department Administration Personnel 211,391$ 232,660$ 251,373$ 232,868$ Contractual Services 160,094 160,094 156,854 190,796 Commodities 5,000 5,000 - - Other Charges 26,754 26,754 38,960 11,412 Total Administration 403,239 424,508 447,187 435,076 Inspection Services Personnel 1,016,826 1,040,147 1,016,977 989,344 Contractual Services 661,604 661,604 459,599 455,527 Commodities 8,150 8,150 3,658 2,823 Other Charges 18,226 18,226 10,534 25,157 Total Inspection Services 1,704,806 1,728,127 1,490,768 1,472,851 Planning Personnel 394,111 407,865 379,789 396,227 Contractual Services 333,866 348,366 250,761 140,721 Other Charges 19,940 19,940 12,200 26,868 Total Planning 747,917 776,171 642,750 563,816 Engineering Personnel 313,524 321,420 181,930 221,934 Contractual Services 505,505 505,505 541,575 480,006 Commodities 470 470 - - Other Charges 9,678 9,678 2,510 12,351 Total Engineering 829,177 837,073 726,015 714,291 Capital Projects Personnel - - 254 15 Total Capital Projects - - 254 15 Total Community Development 3,685,139 3,765,879 3,306,974 3,186,049 Total Current Expenditures 66,178,715 66,178,715 63,310,792 60,677,528 CAPITAL OUTLAY Machinery and Equipment - - - 11,877 Total Expenditures 66,178,715 66,178,715 63,310,792 60,689,405 124 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2020 2020 Budgeted Amounts OTHER FINANCING USES Transfers Out Corporate Purpose Debt Service Fund 2,209,982$ 2,209,982$ 2,260,749$ 2,232,228$ Capital Projects Fund 11,000,000 11,000,000 10,000,000 10,750,000 Total Other Financing Uses 13,209,982 13,209,982 12,260,749 12,982,228 Total Expenditures and Other Financing Uses 79,388,697$ 79,388,697$ 75,571,541$ 73,671,633$ GOVERNMENTAL FUND DESCRIPTIONS NONMAJOR FUNDS NONMAJOR SPECIAL REVENUE FUNDS Motor Fuel Tax Fund -to account for revenues received from the state of Illinois for the local share of the motor fuel tax collections and used for street maintenance and construction. State law requires that these gasoline taxes be used to maintain streets. Foreign Fire Insurance Fund -to account for a 2% charge imposed by the state on insurance premiums received from companies not incorporated in the state of Illinois but that are engaged in providing fire insurance in the Village. These special revenues are restricted to fire department expenditures approved by the Foreign Fire Insurance Board. Police Department Special Account Fund -to account for revenues received from the office of the Illinois State Police, which are restricted to various types of investigations. Waukegan Golf TIF Fund -to account for the incremental property tax revenue that is generated through the growth of the assessed valuations at the redeveloped area near the northeast corner of the Waukegan Road and Golf road intersection. NONMAJOR DEBT SERVICE FUND Corporate Purpose Bonds Fund -to account for the accumulation of monies for payment of principal and interest on bonded debt paid from governmental fund resources. NONMAJOR CAPITAL PROJECTS FUND Glen Capital Projects Fund -(formerly called the “1995 GNAS Bond Projects Fund”) –to account for expenditures related to various development projects related to The Glen. VILLAGE OF GLENVIEW COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS As of December 31, 2020 Motor Fuel Tax Fund Foreign Fire Insurance Fund Police Department Special Account Fund Waukegan Golf TIF Fund ASSETS Cash and Cash Equivalents $1,042,249 $214,236 $26,571 $4,407,594 Due from Other Governments 155,159 --- Due from Other Funds ---- TOTAL ASSETS $ 1,197,408 $214,236 $26,571 $ 4,407,594 LIABILITIES AND FUND BALANCES Liabilities Accounts Payable $388,157 $-$-$157,544 Accrued Payroll ---253 Other Payables ---486 Due to Other Funds ---- Total Liabilities 388,157 --158,283 Fund Balances Restricted for Street Improvements 809,251 --- Restricted for Public Safety -214,236 26,571 - Restricted for Economic Development ---4,249,311 Assigned to Debt Service Funds ---- Assigned to Capital Project Funds ---- Total Fund Balances 809,251 214,236 26,571 4,249,311 TOTAL LIABILITIES AND FUND BALANCES $ 1,197,408 $214,236 $26,571 $ 4,407,594 125 Corporate Purpose Bonds Fund Glen Capital Projects Fund Total Nonmajor Governmental Funds $551,723 $104,033 $6,346,406 --155,159 3,797 -3,797 $555,520 $104,033 $ 6,505,362 $-$-$545,701 --253 --486 103 -103 103 -546,543 --809,251 --240,807 --4,249,311 555,417 -555,417 -104,033 104,033 555,417 104,033 5,958,819 $555,520 $104,033 $ 6,505,362 126 VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2020 Motor Fuel Tax Fund Foreign Fire Insurance Fund Police Department Special Account Fund Waukegan Golf TIF Fund REVENUES Property Taxes $-$-$-$2,265,201 Intergovernmental 3,483,094 144,761 -- Investment Income 20,386 1,614 215 27,758 Miscellaneous --246 - Total Revenues 3,503,480 146,375 461 2,292,959 EXPENDITURES Current Public Safety -182,623 -- Development ---176,406 Capital Outlay 4,276,053 --- Debt Service Principal ---620,000 Interest and Fiscal Charges ---81,940 Total Expenditures 4,276,053 182,623 -878,346 Excess (Deficiency) of Revenues over Expenditures (772,573)(36,248)461 1,414,613 OTHER FINANCING SOURCES (USES) Transfers In 420,000 --- Transfers Out (1,026,783)--- Total Other Financing Sources (Uses)(606,783)--- Net Change in Fund Balances (1,379,356)(36,248)461 1,414,613 FUND BALANCES - Beginning of Year 2,188,607 250,484 26,110 2,834,698 FUND BALANCES - END OF YEAR $809,251 $214,236 $26,571 $ 4,249,311 127 Corporate Purpose Bonds Fund Glen Capital Projects Fund Total Nonmajor Governmental Funds $-$-$2,265,201 --3,627,855 6,118 823 56,914 -3,038 3,284 6,118 3,861 5,953,254 --182,623 --176,406 --4,276,053 1,740,000 -2,360,000 471,923 -553,863 2,211,923 -7,548,945 (2,205,805)3,861 (1,595,691) 2,260,749 -2,680,749 --(1,026,783) 2,260,749 -1,653,966 54,944 3,861 58,275 500,473 100,172 5,900,544 $555,417 $104,033 $ 5,958,819 128 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - MOTOR FUEL TAX FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Intergovenmental Motor Fuel Tax $2,907,891 $2,907,891 $3,483,094 $2,362,108 Investment Income 49,600 49,600 20,386 59,140 Miscellaneous ---8,721 Total Revenues 2,957,491 2,957,491 3,503,480 2,429,969 EXPENDITURES Capital Outlay 4,607,889 4,607,889 4,276,053 2,095,500 Total Expenditures 4,607,889 4,607,889 4,276,053 2,095,500 Excess (Deficiency) of Revenues over Expenditures (1,650,398)(1,650,398)(772,573)334,469 OTHER FINANCING SOURCES (USES) Transfers In General Fund --420,000 - Transfers Out Capital Projects Fund --(1,026,783)- Total Other Financing Sources (Uses)--(606,783)- Net Change in Fund Balance $(1,650,398)$(1,650,398)(1,379,356)334,469 FUND BALANCE - Beginning of Year 2,188,607 1,854,138 FUND BALANCE - END OF YEAR $809,251 $ 2,188,607 129 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - FOREIGN FIRE INSURANCE FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Intergovernmental $120,000 $120,000 $144,761 $119,285 Investment Income 4,000 4,000 1,614 3,997 Total Revenues 124,000 124,000 146,375 123,282 EXPENDITURES Public Safety Contractual Services 14,460 14,460 13,899 13,674 Commodities 99,170 99,170 168,724 157,661 Total Expenditures 113,630 113,630 182,623 171,335 Net Change in Fund Balance $10,370 $10,370 (36,248)(48,053) FUND BALANCE - Beginning of Year 250,484 298,537 FUND BALANCE - END OF YEAR $214,236 $250,484 130 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - POLICE DEPARTMENT SPECIAL ACCOUNT FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Investment Income $565 $565 $215 $517 Other Revenues --246 2,101 Total Revenues 565 565 461 2,618 EXPENDITURES Capital Outlay 15,000 15,000 -10,097 Total Expenditures 15,000 15,000 -10,097 Net Change in Fund Balance $(14,435)$(14,435)461 (7,479) FUND BALANCE - Beginning of Year 26,110 33,589 FUND BALANCE - END OF YEAR $26,571 $26,110 131 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - WAUKEGAN GOLF TIF FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Property Taxes - Incremental $1,553,778 $1,553,778 $2,265,201 $1,558,070 Investment Income 49,600 49,600 27,758 69,610 Total Revenues 1,603,378 1,603,378 2,292,959 1,627,680 EXPENDITURES Community Development Personnel 9,183 9,183 12,004 8,580 Contractual Services 322,040 322,040 164,402 310,798 Total Community Development 331,223 331,223 176,406 319,378 Debt Service Principal 620,000 620,000 620,000 605,000 Interest and Fiscal Charges 81,940 81,940 81,940 96,158 Total Expenditures 1,033,163 1,033,163 878,346 1,020,536 Net Change in Fund Balance $570,215 $570,215 1,414,613 607,144 FUND BALANCE - Beginning of Year 2,834,698 2,227,554 FUND BALANCE - END OF YEAR $ 4,249,311 $ 2,834,698 132 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - CORPORATE PURPOSE BONDS FUND - NONMAJOR DEBT SERVICE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Investment Income $21,905 $21,905 $6,118 $17,298 Total Revenues 21,905 21,905 6,118 17,298 EXPENDITURES Debt Service Principal 1,740,000 1,740,000 1,740,000 1,670,000 Interest and Fiscal Charges 471,923 471,923 471,923 533,523 Total Expenditures 2,211,923 2,211,923 2,211,923 2,203,523 Deficiency of Revenues under Expenditures (2,190,018)(2,190,018)(2,205,805)(2,186,225) OTHER FINANCING SOURCES (USES) Transfers In General Fund 2,209,982 2,209,982 2,260,749 2,232,228 Transfers Out General Fund ---(14,257) Total Other Financing Sources (Uses)2,209,982 2,209,982 2,260,749 2,217,971 Net Change in Fund Balance $19,964 $19,964 54,944 31,746 FUND BALANCE - Beginning of Year 500,473 468,727 FUND BALANCE - END OF YEAR $555,417 $500,473 133 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GLEN CAPITAL PROJECTS FUND - NONMAJOR CAPITAL PROJECTS FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Investment Income $3,600 $3,600 $823 $2,987 Development - Other Revenues 2,894 2,894 3,038 3,162 Total Revenues 6,494 6,494 3,861 6,149 EXPENDITURES Capital Outlay ---86,492 Total Expenditures ---86,492 Excess (Deficiency) of Revenues over Expenditures 6,494 6,494 3,861 (80,343) OTHER FINANCING SOURCES Transfers In Special Tax Allocation Fund ---86,196 Total Other Financing Sources ---86,196 Net Change in Fund Balance $ 6,494 $ 6,494 3,861 5,853 FUND BALANCE - Beginning of Year 100,172 94,319 FUND BALANCE - END OF YEAR $104,033 $100,172 134 GOVERNMENTAL FUND DESCRIPTIONS MAJOR CAPITAL PROJECTS FUND Capital Projects Fund –to account for revenues and expenditures involved with improvements throughout the Village which are not included in other capital project funds. Village Permanent Fund -a capital projects fund used to accumulate and account for a specific portion of the land sales proceeds of The Glen. Twenty percent of the land sale revenues are assigned for capital and economic development expenditures throughout the Village (outside of the Glen). Additionally, Permanent Fund assets can be loaned for short-term liquidity to other Village funds as a result of exhaustion of cash reserves. VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - CAPITAL PROJECTS FUND - MAJOR CAPITAL PROJECTS FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Intergovernmental - Grants $629,000 $629,000 $144,522 $671,615 Investment Income 29,000 29,000 9,336 35,333 Other Revenues 882,000 882,000 -58,265 Development - Other Revenues --159,014 400 Total Revenues 1,540,000 1,540,000 312,872 765,613 EXPENDITURES Capital Outlay 15,365,304 15,232,998 8,880,603 10,842,635 Debt Service Principal 24,370 24,370 24,371 24,371 Total Expenditures 15,389,674 15,257,368 8,904,974 10,867,006 Deficiency of Revenues under Expenditures (13,849,674)(13,717,368)(8,592,102)(10,101,393) OTHER FINANCING SOURCES (USES) Transfers In General Fund 11,000,000 11,000,000 10,000,000 10,750,000 Wholesale Water Fund 573,024 573,024 573,024 556,334 Village Permanent Fund 1,000,000 1,000,000 -- Motor Fuel Tax Fund --1,026,783 - Transfers out Capital Projects Fund --(420,000)- Total Other Financing Sources (Uses)12,573,024 12,573,024 11,179,807 11,306,334 Net Change in Fund Balance $(1,276,650)$(1,144,344)2,587,705 1,204,941 FUND BALANCE - Beginning of Year 2,275,560 1,070,619 FUND BALANCE - END OF YEAR $ 4,863,265 $ 2,275,560 135 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - VILLAGE PERMANENT FUND - MAJOR CAPITAL PROJECTS FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Lease Fees $156,000 $156,000 $-$- Investment Income 150,000 150,000 272,082 593,533 Other Revenues ---44,193 Total Revenues 306,000 306,000 272,082 637,726 EXPENDITURES Community Development Contractual Services 131,421 131,421 -24 Total Expenditures 131,421 131,421 -24 Excess of Revenues over Expenditures 174,579 174,579 272,082 637,702 OTHER FINANCING SOURCES (USES) Property Sales 1,535,518 1,535,518 -- Transfers Out Capital Projects Fund (1,000,000)(1,000,000)-- Total Other Financing Sources (Uses)535,518 535,518 -- Net Change in Fund Balance $710,097 $710,097 272,082 637,702 FUND BALANCE - Beginning of Year 29,515,258 28,877,556 FUND BALANCE - END OF YEAR $ 29,787,340 $ 29,515,258 136 ENTERPRISE FUND DESCRIPTIONS Enterprise funds are proprietary funds established to account for the financing of self-supporting activities NONMAJOR ENTERPRISE FUNDS Wholesale Water Fund -to account for the operations associated with the purchase of water from the Village of Wilmette for sale to other water systems. Commuter Parking Lot Fund -to account for the operation of the Village’s commuter parking facilities, including administration, sale of permits, and maintenance of the lots. VILLAGE OF GLENVIEW COMBINING STATEMENT OF NET POSITION NONMAJOR ENTERPRISE FUNDS As of December 31, 2020 Wholesale Water Fund Commuter Parking Lot Fund Total Nonmajor Enterprise Funds ASSETS Current Assets Cash and Cash Equivalents $1,075,297 $1,362,631 $2,437,928 Receivables Accounts 1,010,648 473 1,011,121 Total Current Assets 2,085,945 1,363,104 3,449,049 Noncurrent Assets Capital Assets Land -500,000 500,000 Buildings and Improvements -2,989,930 2,989,930 Machinery, Equipment and Furnishings -13,283 13,283 Water System 2,512,633 -2,512,633 Less: Accumulated Depreciation (1,745,144)(1,227,275)(2,972,419) Total Noncurrent Assets 767,489 2,275,938 3,043,427 Total Assets 2,853,434 3,639,042 6,492,476 DEFERRED OUTFLOWS OF RESOURCES Deferred Outflows Related to OPEB 2,715 1,334 4,049 Total Deferred Outflows of Resources 2,715 1,334 4,049 LIABILITIES Current Liabilities Accounts Payable 226,636 123,143 349,779 Accrued Payroll 1,474 898 2,372 Accrued Expenses 1,528 101,286 102,814 Compensated Absences - Current 1,495 797 2,292 Total Current Liabilities 231,133 226,124 457,257 Noncurrent Liabilities Long-Term Debt Compensated Absences 5,979 3,188 9,167 Total OPEB Liability 11,079 5,444 16,523 Total Noncurrent Liabilities 17,058 8,632 25,690 Total Liabilities 248,191 234,756 482,947 DEFERRED INFLOWS OF RESOURCES Deferred Inflows Related to OPEB 1,289 633 1,922 Total Deferred Inflows of Resources 1,289 633 1,922 NET POSITION Net Investment in Capital Assets 767,489 2,275,938 3,043,427 Unrestricted 1,839,180 1,129,049 2,968,229 TOTAL NET POSITION $ 2,606,669 $ 3,404,987 $ 6,011,656 137 138 NONMAJOR ENTERPRISE FUNDS Commuter Total Nonmajor Wholesale Parking Lot Enterprise Water Fund Fund Funds Operating Revenues Charges for Sales and Services Parking Meter Fees -$ 70,064$ 70,064$ Parking Decals - 79,843 79,843 Water Charges 4,408,385 - 4,408,385 Total Charges for Sales and Services 4,408,385 149,907 4,558,292 Miscellaneous Revenue - 3,380 3,380 Total Operating Revenues 4,408,385 153,287 4,561,672 Operating Expenses Operations 2,273,922 594,066 2,867,988 Depreciation and Amortization 62,816 92,392 155,208 Total Operating Expenses 2,336,738 686,458 3,023,196 Operating Income (Loss)2,071,647 (533,171) 1,538,476 Non-Operating Revenues Investment Income 2,280 7,882 10,162 Total Non-Operating Revenues 2,280 7,882 10,162 Net Income (Loss) Before Transfers 2,073,927 (525,289) 1,548,638 Transfers Transfers Out (1,149,974) - (1,149,974) Change in Net Position 923,953 (525,289) 398,664 NET POSITION - Beginning of Year 1,682,716 3,930,276 5,612,992 NET POSITION - END OF YEAR 2,606,669$ 3,404,987$ 6,011,656$ VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION As of December 31, 2020 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS For the Year Ended December 31, 2020 Wholesale Water Fund Commuter Parking Lot Fund Totals CASH FLOWS FROM OPERATING ACTIVITIES Received from Customers $4,040,028 $153,008 $4,193,036 Paid to Suppliers for Goods and Services (2,177,028)(395,052)(2,572,080) Paid to Employees for Services (122,573)(89,203)(211,776) Net Cash Flows From Operating Activities 1,740,427 (331,247)1,409,180 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income 2,280 32,613 34,893 Sale of Investments 247,061 993,900 1,240,961 Net Cash Flows From Investing Activities 249,341 1,026,513 1,275,854 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers Out (1,149,974)-(1,149,974) Net Cash Flows From Noncapital Financing Activities (1,149,974)-(1,149,974) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition and Construction of Capital Assets -(177,104)(177,104) Net Cash Flows From Capital and Related Financing Activities -(177,104)(177,104) Net Change in Cash and Cash Equivalents 839,794 518,162 1,357,956 CASH AND CASH EQUIVALENTS - Beginning of Year 235,503 844,469 1,079,972 CASH AND CASH EQUIVALENTS - END OF YEAR $ 1,075,297 $ 1,362,631 $ 2,437,928 RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating Income (Loss)$2,071,647 $(533,171)$1,538,476 Adjustments to Reconcile Operating Income (Loss) to Net Cash Flows From Operating Activities Depreciation 62,816 92,392 155,208 Changes in Assets and Liabilities Accounts Receivable (368,357)(284)(368,641) Due from Other Funds -5 5 Accounts Payable (25,658)9,263 (16,395) Accrued Salaries (2,945)(2,805)(5,750) Accrued Expenses 1,457 100,694 102,151 Compensated Absences Payable 796 842 1,638 Total OPEB Liability 532 2,008 2,540 Deferred Outflows Related to OPEB (939)(755)(1,694) Deferred Inflows Related to OPEB 1,078 564 1,642 NET CASH FLOWS FROM OPERATING ACTIVITIES $ 1,740,427 $(331,247)$ 1,409,180 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES None 139 140 WHOLESALE WATER FUND - NONMAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual ActualOperating Revenues Charges for Sales and Services Water Charges 3,868,458$ 3,868,458$ 4,408,385$ 2,283,298$ Total Operating Revenue 3,868,458 3,868,458 4,408,385 2,283,298 Miscellaneous Revenue Other Revenues - - - 3,270 Total Miscellaneous Revenue - - - 3,270 Total Operating Revenues 3,868,458 3,868,458 4,408,385 2,286,568 Operating Expenses Water Services Personnel 121,177 121,177 121,095 119,999 Contractual Services 1,317,169 1,317,169 1,270,309 1,215,778 Commodities 982,377 982,377 861,845 10,234 Other Charges 20,673 20,673 20,673 19,289 Total Operating Expenses 2,441,396 2,441,396 2,273,922 1,365,300 Operating Income 1,427,062 1,427,062 2,134,463 921,268 Non-Operating Revenues Investment Income 9,000 9,000 2,280 6,350 Total Non-Operating Revenues 9,000 9,000 2,280 6,350 Net Income Before Transfers 1,436,062 1,436,062 2,136,743 927,618 Transfers OutGeneral Fund (325,000) (325,000) (325,000) (325,000) Capital Projects Fund (573,024) (573,024) (573,024) (556,334) Glenview Water Fund (251,950) (251,950) (251,950) - Total Transfers Out (1,149,974) (1,149,974) (1,149,974) (881,334) Change in Net Position - Budgetary Basis 286,088$ 286,088$ 986,769 46,284 Adjustments to GAAP Basis Depreciation and Amortization (62,816) (62,816) Change in Net Position - GAAP Basis 923,953 (16,532) NET POSITION - Beginning of Year 1,682,716 1,699,248 NET POSITION - END OF YEAR 2,606,669$ 1,682,716$ VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2020 2020 Budgeted Amount 141 COMMUTER PARKING LOT FUND - NONMAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual ActualOperating Revenues Charges for Sales and Services Parking Meter Fees 254,589$ 254,589$ 70,064$ 262,894$ Parking Decals 396,748 396,748 79,843 416,086 Total Charges for Sales and Services 651,337 651,337 149,907 678,980 Miscellaneous Revenue Vendor Lease Rental Fee 7,560 7,560 3,260 7,180 Other Revenues - - 120 2,651 Total Miscellaneous Revenue 7,560 7,560 3,380 9,831 Total Operating Revenues 658,897 658,897 153,287 688,811 Operating Expenses Parking Services Personnel 89,599 89,599 91,862 87,848 Contractual Services 226,600 456,611 210,086 192,608 Commodities 69,933 69,933 42,517 23,193 Other Charges 249,242 249,242 249,601 260,914 Capital Outlay - - 185,314 76,800 Total Operating Expenses 635,374 865,385 779,380 641,363 Operating Income (Loss)23,523 (206,488) (626,093) 47,448 Non-Operating Revenues Investment Income 29,600 29,600 7,882 42,429 Total Non-Operating Revenues 29,600 29,600 7,882 42,429 Net Income (Loss) Before Transfers 53,123 (176,888) (618,211) 89,877 Change in Net Position - Budgetary Basis 53,123$ (176,888)$ (618,211) 89,877 Adjustments to GAAP Basis Acquisition of Capital Assets 185,314 76,800 Depreciation and Amortization (92,392) (84,979) Change in Net Position - GAAP Basis (525,289) 81,698 NET POSITION - Beginning of Year 3,930,276 3,848,578 NET POSITION - END OF YEAR 3,404,987$ 3,930,276$ VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2020 2020 Budgeted Amount ENTERPRISE FUND DESCRIPTIONS Enterprise funds are proprietary funds established to account for the financing of self-supporting activities of government units which render services on a user-charge basis to the general public. MAJOR ENTERPRISE FUNDS Glenview Water Fund - to account for the provision of water services to the property owners in the Village. All activities necessary to provide such services are accounted for in this fund including, but not limited to, administration, operations, maintenance, financing and related debt service, and billing and collections. Glenview Sanitary Sewer Fund - to account for the provision of sanitary sewer services to property owners in both incorporated and unincorporated areas of the Village. All activities necessary to provide such services are accounted for in this fund including, but not limited to, administration, operations, maintenance, financing and related debt service, and billing and collections. 142 GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual ActualOperating Revenues Charges for Sales and Services Water Charges 14,189,531$ 14,189,531$ 15,556,236$ 14,304,106$ Water Connection Charges 100,000 100,000 83,626 89,920 Water Meter and Remote Readers 3,700 3,700 1,723 5,772 Total Charges for Sales and Services 14,293,231 14,293,231 15,641,585 14,399,798 Miscellaneous RevenueLate Payment Fees 150,000 150,000 149,202 216,041 Water for Construction 15,000 15,000 34,862 42,711 Other 52,913 52,913 49,387 87,464 Total Miscellaneous Revenue 217,913 217,913 233,451 346,216 Total Operating Revenues 14,511,144 14,511,144 15,875,036 14,746,014 Operating Expenses Water Services Personnel 2,574,355 2,574,355 2,469,334 2,305,367 Contractual Services 5,315,371 5,315,371 5,250,710 4,984,428 Commodities 894,204 894,204 748,893 564,960 Other Charges 834,311 834,311 747,517 867,809 Capital Outlay 4,908,600 4,820,559 4,119,762 4,798,568 Total Operating Expenses 14,526,841 14,438,800 13,336,216 13,521,132 Operating Income (Loss)(15,697) 72,344 2,538,820 1,224,882 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2020 2020 Budgeted Amount 143 GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2020 2020 Budgeted Amount Non-Operating Revenues (Expenses)Investment Income 86,000$ 86,000$ 60,789$ 127,347$ Debt Service Principal (759,479) (759,479) (843,866) (656,340) Interest and Fiscal Charges (97,610) (97,610) (95,146) (108,284) Total Non-Operating Revenues (Expenses)(771,089) (771,089) (878,223) (637,277) Net Income (Loss) Before Contributions and Transfers (786,786) (698,745) 1,660,597 587,605 Contributions and Transfers In Capital Contributions - - - 479,475 Glenview Sanitary Sewer Fund - - 84,387 65,634 Wholesale Water Fund 251,950 251,950 251,950 - Total Contributions and Transfers In 251,950 251,950 336,337 545,109 Change in Net Position - Budgetary Basis (534,836)$ (446,795)$ 1,996,934 1,132,714 Adjustments to GAAP Basis Acquisition of Capital Assets 1,818,770 3,044,355 Depreciation and Amortization (1,428,563) (1,430,838) Principal Expense 843,866 656,340 Change in Net Position - GAAP Basis 3,231,007 3,402,571 NET POSITION - Beginning of Year 41,391,247 37,988,676 NET POSITION - END OF YEAR 44,622,254$ 41,391,247$ 144 GLENVIEW SANITARY SEWER FUND - MAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2019 2019 Original Final Actual ActualOperating RevenuesCharges for Sales and Services Sewer Charges 2,542,227$ 2,542,227$ 2,467,581$ 2,312,551$ Sewer Connection Charges 10,000 10,000 9,660 7,583 Total Charges for Sales and Services 2,552,227 2,552,227 2,477,241 2,320,134 Miscellaneous Revenue Other 70,644 70,644 73,072 77,986 Total Miscellaneous Revenue 70,644 70,644 73,072 77,986 Total Operating Revenues 2,622,871 2,622,871 2,550,313 2,398,120 Operating Expenses Sewerage ServicesPersonnel 545,603 545,603 522,675 472,106 Contractual Services 244,276 244,276 188,589 141,879 Commodities 84,111 84,111 57,275 25,987 Other Charges 134,728 134,728 114,152 145,489 Capital Outlay 1,638,226 1,624,366 1,032,739 1,562,034 Total Operating Expenses 2,646,944 2,633,084 1,915,430 2,347,495 Operating Income (Loss)(24,073) (10,213) 634,883 50,625 Non-Operating Revenues (Expenses)Fines and Fees 2,500 2,500 14,257 5,949 Heatherfield Investment Income 9,000 9,000 13,100 15,604 Debt Service Principal (84,387) (84,387) - - Interest and Fiscal Charges (10,845) (10,845) (10,816) (12,150) Total Non-Operating Revenues (Expenses)(83,732) (83,732) 16,541 9,403 Net Income (Loss) Before Contributions and Transfers (107,805) (93,945) 651,424 60,028 Contributions and Transfers (Out) Capital Contributions - - - 269,988 Glenview Water Fund - - (84,387) (65,634) Total Contributions and Transfers In (Out)- - (84,387) 204,354 Change in Net Position - Budgetary Basis (107,805)$ (93,945)$ 567,037 264,382 Adjustments to GAAP basis Acquisition of Capital Assets 441,745 697,878 Depreciation and Amortization (526,345) (517,511) Change in Net Position - GAAP Basis 482,437 444,749 NET POSITION - Beginning of Year 20,292,484 19,847,735 NET POSITION - END OF YEAR 20,774,921$ 20,292,484$ VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2020 2020 Budgeted Amount INTERNAL SERVICE FUND DESCRIPTIONS Internal service funds are proprietary funds that are used to provide an enterprise-like accounting of the Village's costs of delivering certain services to departments within the Village. The revenues include transfers from other funds to these funds for services provided and, as such, are recognized as charges for services. Such transfers are recognized as expenditures/expenses for services in the other funds, not as other financing uses. Capital Equipment Replacement Fund (CERF) -to account for the funds annually set aside for the eventual replacement of certain capital equipment. Municipal Equipment Repair Fund (MERF) -to account for the cost of repairing and maintaining Village vehicles. These costs include labor, material, fuel, fixed overhead of the Village's repair facility, and depreciation. Insurance and Risk Fund -to account for the financial activity of the Village's insurance program including employee health and life insurance. In addition to conventional primary insurance, the Village purchases excess liability coverage through the open insurance market.The Village also provides health and life insurance by participating in the Intergovernmental Personnel Benefit Cooperative (IPBC). Facilities Repair and Replacement Fund (FRRF) -to account for the funds annually set aside for the eventual replacement of the Village's various facilities. VILLAGE OF GLENVIEW COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS As of December 31, 2020 Capital Equipment Replacement Fund (CERF) Municipal Equipment Repair Fund (MERF) Insurance and Risk Fund Facilities Repair and Replacement Fund (FRRF)Totals ASSETS Current Assets Cash and Cash Equivalents $5,318,649 $99,995 $8,409,841 $2,950,974 $16,779,459 Investments 1,930,073 --1,217,200 3,147,273 Receivables Accounts -20,982 --20,982 Accrued Interest 53,583 --25,433 79,016 Other --60,000 -60,000 Prepaid Items 1,051,581 -165,607 -1,217,188 Inventories -429,221 --429,221 Deposits --581,187 -581,187 Total Current Assets 8,353,886 550,198 9,216,635 4,193,607 22,314,326 LIABILITIES Current Liabilities Accounts Payable 117,277 122,870 558,402 2,778 801,327 Accrued Payroll -5,710 2,910 215 8,835 Accrued Expenses 7,198 1,140 101,891 724 110,953 Due to Other Funds --5,662 -5,662 Claims Payable --478,252 -478,252 Unearned Revenues --21,839 -21,839 Total Current Liabilities 124,475 129,720 1,168,956 3,717 1,426,868 Noncurrent Liabilities Claims Payable --717,379 -717,379 Total Noncurrent Liabilities --717,379 -717,379 Total Liabilities 124,475 129,720 1,886,335 3,717 2,144,247 NET POSITION Unrestricted 8,229,411 420,478 7,330,300 4,189,890 20,170,079 TOTAL NET POSITION $8,229,411 $420,478 $7,330,300 $4,189,890 $20,170,079 145 VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS For the Year Ended December 31, 2020 Capital Equipment Replacement Fund (CERF) Municipal Equipment Repair Fund (MERF) Insurance and Risk Fund Facilities Repair and Replacement Fund (FRRF)Totals OPERATING REVENUES Charges for Services $2,153,193 $951,083 $7,593,891 $1,108,316 $11,806,483 Miscellaneous -76,141 8,668 141,252 226,061 Total Operating Revenues 2,153,193 1,027,224 7,602,559 1,249,568 12,032,544 OPERATING EXPENSES Personnel -438,535 546,684 15,823 1,001,042 Contractual Services -320,876 6,619,588 261,896 7,202,360 Commodities 254,482 387,434 --641,916 Other Charges -74,088 --74,088 Capital Outlay 594,971 ---594,971 Total Operating Expenses 849,453 1,220,933 7,166,272 277,719 9,514,377 Operating Income (Loss)1,303,740 (193,709)436,287 971,849 2,518,167 NONOPERATING REVENUES Investment Income 88,991 185 1,018,971 40,712 1,148,859 Gain on Sale of Capital Assets 91,714 ---91,714 Reassignment of Capital Assets (1,023,068)--(87,155)(1,110,223) Total Nonoperating Revenues (842,363)185 1,018,971 (46,443)130,350 Income (Loss) Before Transfers 461,377 (193,524)1,455,258 925,406 2,648,517 TRANSFERS Transfers Out --(250,000)-(250,000) Total Transfers --(250,000)-(250,000) Change in net position 461,377 (193,524)1,205,258 925,406 2,398,517 NET POSITION - Beginning of Year 7,768,034 614,002 6,125,042 3,264,484 17,771,562 NET POSITION - END OF YEAR $8,229,411 $420,478 $7,330,300 $4,189,890 $20,170,079 146 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS For the Year Ended December 31, 2020 Capital Equipment Replacement Fund (CERF) Municipal Equipment Repair Fund (MERF) Insurance and Risk Fund Facilities Repair and Replacement Fund (FRRF)Totals CASH FLOWS FROM OPERATING ACTIVITIES Received from Customers $2,153,193 $1,028,992 $8,067,935 $1,249,568 $12,499,688 Paid to Suppliers for Goods and Services (2,098,536)(801,282)(6,358,303)(549,693)(9,807,814) Paid to Employees for Services -(446,759)(553,741)-(1,000,500) Net Cash Flows From Operating Activities 54,657 (219,049)1,155,891 699,875 1,691,374 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income 97,045 185 1,070,458 29,966 1,197,654 Sale of Investments 3,728,100 -3,173,259 2,209,500 9,110,859 Purchase of Investments ---(1,217,200)(1,217,200) Net Cash Flows From Investing Activities 3,825,145 185 4,243,717 1,022,266 9,091,313 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers Out --(250,000)-(250,000) Net Cash Flows From Noncapital Financing Activities --(250,000)-(250,000) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proceeds from Sale of Capital Assets 91,714 ---91,714 Acquisition and Construction of Capital Assets (1,107,379)--(87,155)(1,194,534) Net Cash Flows From Capital and Related Financing Activities (1,015,665)--(87,155)(1,102,820) Net Change in Cash and Cash Equivalents 2,864,137 (218,864)5,149,608 1,634,986 9,429,867 CASH AND CASH EQUIVALENTS - Beginning of Year 2,454,512 318,859 3,260,233 1,315,988 7,349,592 CASH AND CASH EQUIVALENTS - END OF YEAR $5,318,649 $99,995 $8,409,841 $2,950,974 $16,779,459 147 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS For the Year Ended December 31, 2020 Capital Equipment Replacement Fund (CERF) Municipal Equipment Repair Fund (MERF) Insurance and Risk Fund Facilities Repair and Replacement Fund (FRRF)Totals RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income (loss)$1,303,740 $(193,709)$436,287 $971,849 $2,518,167 Changes in assets and liabilities Accounts Receivable -1,768 94,497 -96,265 Inventory -(8,253)--(8,253) Deposits --374,051 -374,051 Prepaid Items (1,051,581)-(31,782)-(1,083,363) Accounts Payable (178,082)(5,229)592,158 (28,581)380,266 Claims Payable --(301,874)-(301,874) Accrued Salaries -(8,224)(7,057)(516)(15,797) Accrued Expenses (19,420)--(242,877)(262,297) Due to Other Funds -(5,402)2,783 -(2,619) Unearned Revenues --(3,172)-(3,172) NET CASH FLOWS FROM OPERATING ACTIVITIES $54,657 $(219,049)$1,155,891 $699,875 $1,691,374 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES None 148 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL CAPITAL EQUIPMENT REPLACEMENT FUND (CERF) - INTERNAL SERVICE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual OPERATING REVENUES Charges for Services CERF Charges $2,153,193 $2,153,193 $2,153,193 $2,217,489 Other Charges ---105 Intergovernmental - Grants and Loans ---187,715 Other Revenues ---6,791 Total Operating Revenues 2,153,193 2,153,193 2,153,193 2,412,100 OPERATING EXPENSES Commodities 262,239 262,239 254,482 233,033 Machinery and Equipment 89,653 89,653 22,078 39,435 Computer Servers 84,589 84,589 5,654 100,673 Vehicles 2,569,665 2,569,665 567,239 21,882 System Improvements 424,061 424,061 -- Total Operating Expenses 3,430,207 3,430,207 849,453 395,023 Operating Income (Loss)(1,277,014)(1,277,014)1,303,740 2,017,077 NON-OPERATING REVENUES Investment Income 102,000 102,000 88,991 134,759 Gain on Sale of Capital Assets 78,600 78,600 91,714 735 Reassignment of Capital Assets --(1,023,068)(690,346) Total Non-Operating Revenues 180,600 180,600 (842,363)(554,852) Change in net position $(1,096,414)$(1,096,414)461,377 1,462,225 NET POSITION - Beginning of Year 7,768,034 6,305,809 NET POSITION - END OF YEAR $ 8,229,411 $ 7,768,034 149 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL MUNICIPAL EQUIPMENT REPAIR FUND (MERF) - INTERNAL SERVICE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual OPERATING REVENUES Charges for Services Village $1,320,761 $1,320,761 $950,259 $1,470,557 Library 3,000 3,000 824 852 Other Charges 113,250 113,250 76,141 111,311 Total Operating Revenues 1,437,011 1,437,011 1,027,224 1,582,720 OPERATING EXPENSES Personnel 437,521 437,521 438,535 410,839 Contractual Services 360,502 360,502 320,876 332,107 Commodities 562,070 562,070 387,434 537,658 Other Charges 76,218 76,218 74,088 77,399 Total Operating Expenses 1,436,311 1,436,311 1,220,933 1,358,003 Operating Income (Loss)700 700 (193,709)224,717 NON-OPERATING REVENUES Investment Income 50 50 185 70 Total Non-Operating Revenues 50 50 185 70 Change in Net Position $750 $750 (193,524)224,787 NET POSITION - Beginning of Year 614,002 389,215 NET POSITION - END OF YEAR $420,478 $614,002 150 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL INSURANCE AND RISK FUND - INTERNAL SERVICE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual OPERATING REVENUES Charges for Services Employees $771,659 $771,659 $779,472 $825,868 Village 3,848,351 3,848,351 3,854,419 3,642,169 Retirees 1,010,842 1,010,842 1,037,069 979,406 Component Unit - Library 495,756 495,756 472,413 530,109 Other 1,437,412 1,437,412 1,450,518 1,571,236 Miscellaneous Insurance Recoveries 50,000 50,000 8,000 36,040 Other 11,450 11,450 668 7,380 Other Charges ---34,154 Total Operating Revenues 7,625,470 7,625,470 7,602,559 7,626,362 OPERATING EXPENSES Personnel 670,594 670,594 546,684 598,561 Contractual Services 7,218,403 7,218,403 6,619,588 6,915,865 Commodities ---91 Total Operating Expenses 7,888,997 7,888,997 7,166,272 7,514,517 Operating Income (Loss)(263,527)(263,527)436,287 111,845 NON-OPERATING REVENUES Investment Income 128,000 128,000 1,018,971 476,718 Total Non-Operating Revenues 128,000 128,000 1,018,971 476,718 Net Income (Loss) Before Transfers (135,527)(135,527)1,455,258 588,563 TRANSFERS OUT General Fund (250,000)(250,000)(250,000)(250,000) Transfers Out (250,000)(250,000)(250,000)(250,000) Change in Net Position $(385,527)$(385,527)1,205,258 338,563 NET POSITION - Beginning of Year 6,125,042 5,786,479 NET POSITION - END OF YEAR $ 7,330,300 $ 6,125,042 151 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL FACILITIES REPAIR AND REPLACEMENT FUND (FRRF) - INTERNAL SERVICE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual OPERATING REVENUES Charges for Services Facilities Charges $1,108,316 $1,108,316 $1,108,316 $1,107,390 Other Charges --141,252 19,662 Total Operating Revenues 1,108,316 1,108,316 1,249,568 1,127,052 OPERATING EXPENSES Personnel 17,722 17,722 15,823 16,824 Contractual Services 535,059 535,059 261,896 204,529 Capital Outlay 101,236 101,236 -321,014 Total Operating Expenses 654,017 654,017 277,719 542,367 Operating Income 454,299 454,299 971,849 584,685 NON-OPERATING REVENUES Investment Income 42,000 42,000 40,712 51,320 Reassignment of Capital Assets --(87,155)- Total Non-Operating Revenues 42,000 42,000 (46,443)51,320 Change in Net Position $496,299 $496,299 925,406 636,005 NET POSITION - Beginning of Year 3,264,484 2,628,479 NET POSITION - END OF YEAR $ 4,189,890 $ 3,264,484 152 PENSION TRUST AND CUSTODIAL FUND DESCRIPTIONS Pension trust and custodial funds are fiduciary funds used to account for assets held by the Village in a trustee capacity for individuals, private organizations, and/or other governments. PENSION TRUST FUNDS Police Pension Fund -to account for the accumulation of resources to be used for retirement annuity payments to Police Department personnel at appropriate amounts and times in the future. Resources are contributed by police employees at rates fixed by state law, and by the Village at amounts determined by an annual actuarial study through an annual property tax levy. Firefighters' Pension Fund -to account for the accumulation of resources to be used for retirement annuity payments to Fire Department personnel at appropriate amounts and times in the future. Resources are contributed by firefighter employees at rates fixed by state law, and by the Village at amounts determined by an annual actuarial study through an annual property tax levy. CUSTODIAL FUNDS Special Service Area (SSA) Bond Fund -to account for the non-commitment debt service activities of the Village related to the special service areas. Joint ETSB Fund –to account for 9-1-1 surcharge fees received monthly from the Illinois State Police for each member municipality. Municipalities submit 9-1-1 eligible expenditures to the Joint ETSB Board to request disbursement of its respective surcharge revenues. The funds received and disbursed from this fund are revenues and expenditures of the member agencies. VILLAGE OF GLENVIEW COMBINING STATEMENT OF FIDUCIARY NET POSITION PENSION TRUST FUNDS As of December 31, 2020 Police Pension Fund Firefighters' Pension Fund Totals ASSETS Cash and Cash Equivalents $5,242,951 $1,532,993 $6,775,944 Investments U.S. Treasuries 4,700,188 4,426,992 9,127,180 U.S. Agencies 6,772,548 23,702,807 30,475,355 Mutual Funds 57,477,156 63,934,099 121,411,255 Corporate Obligations 18,322,331 5,920,816 24,243,147 Municipal Obligations 499,688 5,065,771 5,565,459 Stocks -588,742 588,742 Negotiable Certificates of Deposit -1,086,446 1,086,446 Receivables Accrued Interest 188,280 206,066 394,346 Due from Primary Government 8,840 12,488 21,328 Prepaid Items 8,197 6,622 14,819 Total Assets 93,220,179 106,483,842 199,704,021 LIABILITIES Accrued Expenses 10,506 59,054 69,560 Total Liabilities 10,506 59,054 69,560 NET POSITION Restricted for Pension Benefits $ 93,209,673 $106,424,788 $199,634,461 153 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION PENSION TRUST FUNDS For the Year Ended December 31, 2020 Police Pension Fund Firefighters' Pension Fund Total ADDITIONS Contributions Employer $3,466,223 $5,141,206 $8,607,429 Participant 1,397,725 926,080 2,323,805 Total Contributions 4,863,948 6,067,286 10,931,234 Investment Income Net Appreciation in Fair Value of Investments 5,896,917 11,799,462 17,696,379 Interest Income 2,867,679 2,417,461 5,285,140 Total Investment Income 8,764,596 14,216,923 22,981,519 Less Investment Expense 109,391 171,809 281,200 Net Investment Income 8,655,205 14,045,114 22,700,319 Total Additions 13,519,153 20,112,400 33,631,553 DEDUCTIONS Retirement Pensions 5,249,019 5,787,276 11,036,295 Widow Pensions 150,054 654,617 804,671 Disability Pensions 139,968 536,847 676,815 Children's Pensions 48,270 11,143 59,413 Contribution Refunds 4,906 75,659 80,565 Administration 87,612 92,726 180,338 Total Deductions 5,679,829 7,158,268 12,838,097 Change in Net Position 7,839,324 12,954,132 20,793,456 NET POSITION - Beginning of Year 85,370,349 93,470,656 178,841,005 NET POSITION - END OF YEAR $ 93,209,673 $106,424,788 $199,634,461 154 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUAL POLICE PENSION FUND - PENSION TRUST FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual Additions Contributions Employer $3,428,510 $3,428,510 $3,466,223 $2,460,430 Participant 736,313 736,313 1,397,725 701,306 Total Contributions 4,164,823 4,164,823 4,863,948 3,161,736 Investment Income Net Appreciation in Fair Value of Investments 4,400,000 4,400,000 5,896,917 9,726,489 Interest Income 1,150,000 1,150,000 2,867,679 3,266,881 Total Investment Income 5,550,000 5,550,000 8,764,596 12,993,370 Less Investment Expense 151,913 151,913 109,391 89,965 Net Investment Income 5,398,087 5,398,087 8,655,205 12,903,405 Total Additions 9,562,910 9,562,910 13,519,153 16,065,141 Deductions Retirement Pensions 4,667,354 4,667,354 5,249,019 4,609,259 Widow Pensions 217,945 217,945 150,054 217,945 Disability Pensions 190,705 190,705 139,968 136,880 Children's Pensions --48,270 48,270 Contribution Refunds 50,000 50,000 4,906 3,605 Administration --87,612 56,856 Total Deductions 5,126,004 5,126,004 5,679,829 5,072,815 Change in Net Position $ 4,436,906 $ 4,436,906 7,839,324 10,992,326 NET POSITION - Beginning of Year 85,370,349 74,378,023 NET POSITION - END OF YEAR $ 93,209,673 $ 85,370,349 155 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUAL FIREFIGHTERS' PENSION FUND - PENSION TRUST FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual Additions Contributions Employer $5,112,536 $5,112,536 $5,141,206 $4,036,671 Participant 861,367 861,367 926,080 868,289 Total Contributions 5,973,903 5,973,903 6,067,286 4,904,960 Investment Income Net Appreciation in Fair Value of Investments 4,800,000 4,800,000 11,799,462 12,991,203 Interest Income 1,200,000 1,200,000 2,417,461 2,597,289 Total Investment Income 6,000,000 6,000,000 14,216,923 15,588,492 Less Investment Expense 238,787 238,787 171,809 162,425 Net Investment Income 5,761,213 5,761,213 14,045,114 15,426,067 Total Additions 11,735,116 11,735,116 20,112,400 20,331,027 Deductions Retirement Pensions 5,285,164 5,285,164 5,787,276 5,219,951 Widow Pensions 639,621 639,621 654,617 665,141 Disability Pensions 448,032 448,032 536,847 482,167 Children's Pensions 18,563 18,563 11,143 - Contribution Refunds 50,000 50,000 75,659 - Administration --92,726 71,393 Total Deductions 6,441,380 6,441,380 7,158,268 6,438,652 Change in Net Position $ 5,293,736 $ 5,293,736 12,954,132 13,892,375 NET POSITION - Beginning of Year 93,470,656 79,578,281 NET POSITION - END OF YEAR $106,424,788 $ 93,470,656 156 VILLAGE OF GLENVIEW COMBINING STATEMENT OF FIDUCIARY NET POSITION CUSTODIAL FUNDS As of December 31, 2020 Special Service Area (SSA) Bond Fund Joint ETSB Total ASSETS Cash and Cash Equivalents $181,358 $1,180,786 $1,362,144 Receivables Taxes 325,866 -325,866 Total Assets 507,224 1,180,786 1,688,010 LIABILITIES Accrued Expenses 1,037 -1,037 Due to Primary Government -1,067 1,067 Due to Members -1,179,719 1,179,719 Advances from Primary Government 310,626 -310,626 Total Liabilities 311,663 1,180,786 1,492,449 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for Future Periods 325,866 -325,866 Total Deferred Inflows of Resources 325,866 -325,866 NET POSITION Unrestricted (Deficit)(130,305)-(130,305) TOTAL NET POSITION $(130,305)$-$(130,305) 157 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION CUSTODIAL FUNDS For the Year Ended December 31, 2020 Special Service Area (SSA) Bond Fund Joint ETSB Total ADDITIONS Investment Income Interest Income $ 2,664 $ 9,896 $12,560 Total Investment Income 2,664 9,896 12,560 Property Taxes 367,816 -367,816 911 Surcharge -4,332,390 4,332,390 Total Additions 370,480 4,342,286 4,712,766 DEDUCTIONS Remittance of Principal to Bondholders 164,455 -164,455 Remittance of Interest to Bondholders 79,299 -79,299 Distributions to Primary Government -1,075,785 1,075,785 Distributions to Members -3,266,501 3,266,501 Miscellaneous 114,337 -114,337 Total Deductions 358,091 4,342,286 4,700,377 Change in Net Position 12,389 -12,389 NET POSITION (DEFICIT) - Beginning of Year (142,694)-(142,694) NET POSITION (DEFICIT) - END OF YEAR $(130,305)$-$(130,305) 158 GLENVIEW LIBRARY COMPONENT UNIT The Glenview Library (Library)is a discretely presented component unit of the Village of Glenview. The following fund descriptions provide information on the governmental funds used within the Village's component unit, the Library. The Glenview Library Funds account for the resources necessary to provide the educational, cultural, and recreational activities of the Glenview Public Library. 159 Library General Fund Library Debt Service Nonmajor Library Funds Total Library ASSETS Current Assets Cash and Cash Equivalents 5,214,079$ 589,827$ 470,963$ 6,274,869$ Prepaids 24,607 - - 24,607 Receivables, Net of AllowancesProperty Taxes 6,494,936 1,678,752 - 8,173,688 Total Current Assets 11,733,622 2,268,579 470,963 14,473,164 Noncurrent Assets Capital Assets Not Depreciated - - - - Capital Assets Depreciation (Net)- - - - Total Noncurrent Assets - - - - TOTAL ASSETS 11,733,622 2,268,579 470,963 14,473,164 DEFERRED OUTFLOWS OF RESOURCES Deferred Charge on Refunding - - - - Deferred Outflows Related to Pensions - - - - Deferred Outflows Related to OPEB - - - - TOTAL DEFERRED OUTFLOWS OF RESOURCES - - - - As of December 31, 2020 Combining Balance Sheet VILLAGE OF GLENVIEW COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION GLENVIEW LIBRARY - COMPONENT UNIT 160 Adjustments Total Component Unit - Glenview Library -$ 6,274,869$ - 24,607 - 8,173,688 - 14,473,164 5,426,987 5,426,987 24,587,267 24,587,267 30,014,254 30,014,254 30,014,254 44,487,418 706,363 706,363 992,859 992,859 57,151 57,151 1,756,373 1,756,373 Statement of Net Position 161 Library General Fund Library Debt Service Nonmajor Library Funds Total Library As of December 31, 2020 Combining Balance Sheet VILLAGE OF GLENVIEW COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION GLENVIEW LIBRARY - COMPONENT UNIT LIABILITIES Current Liabilities Accounts Payable 417,058$ -$ 12,914$ 429,972$ Accrued Payroll 58,124 - - 58,124 Accrued Interest - - - - Current Portion of Bonds Payable - - - - Current Portion of Compensated Absences - - - - Total Current Liabilities 475,182 - 12,914 488,096 Noncurrent Liabilities Bonds Payable - - - - Unamortized Bond Premiums - - - - Net Pension Liability - - - - Total OPEB Liability - - - - Compensated Absences - - - - Total Noncurrent Liabilities - - - - TOTAL LIABILITIES 475,182 - 12,914 488,096 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for a Future Period 6,481,752 1,675,319 - 8,157,071 Deferred Inflows Related to Pensions - - - - Deferred Inflows Related to OPEB - - - - TOTAL DEFERRED INFLOWS OF RESOURCES 6,481,752 1,675,319 - 8,157,071 FUND BALANCES/NET POSITIONNet Investment in Capital Assets - - - - Restricted - 593,260 458,049 1,051,309 Unassigned/Unrestricted 4,776,688 - - 4,776,688 TOTAL FUND BALANCES/NET POSITION 4,776,688 593,260 458,049 5,827,997 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES/NET POSITION 11,733,622$ 2,268,579$ 470,963$ 14,473,164$ 162 Adjustments Total Component Unit - Glenview Library Statement of Net Position -$ 429,972$ - 58,124 47,637 47,637 1,191,850 1,191,850 41,921 41,921 1,281,408 1,769,504 11,918,500 11,918,500 1,733,750 1,733,750 1,487,516 1,487,516 233,203 233,203 167,685 167,685 15,540,654 15,540,654 16,822,062 17,310,158 - 8,157,071 1,298,249 1,298,249 27,135 27,135 1,325,384 9,482,455 15,876,517 15,876,517 - 1,051,309 (2,253,336) 2,523,352 13,623,181 19,451,178 31,770,627$ 46,243,791$ 163 Library General Fund Library Debt Service Nonmajor Library Funds Total Library REVENUES Property Taxes 6,393,333$ 1,806,841$ -$ 8,200,174$ Charges for Services 16,092 - - 16,092 Fines and Forfeitures 33,572 - - 33,572 Intergovernmental 1,191,756 - - 1,191,756 Investment Income 36,408 10,173 5,874 52,455 Other Revenue 27,277 - 59,799 87,076 Total Revenues 7,698,438 1,817,014 65,673 9,581,125 EXPENDITURES Current Culture and Recreation 7,032,243 220 151,177 7,183,640 Debt Service Principal - 1,132,750 - 1,132,750 Interest and Other - 629,282 - 629,282 Capital Outlay 828,299 - 927,899 1,756,198 Total Expenditures 7,860,542 1,762,252 1,079,076 10,701,870 Excess (Deficiency) of Revenues over Expenditures (162,104) 54,762 (1,013,403) (1,120,745) OTHER FINANCING SOURCES (USES)Transfers In 50,000 - 558,824 608,824 Transfers Out (538,824) - (70,000) (608,824) Total Other Financing Sources (Uses)(488,824) - 488,824 - Net Change in Fund Balances/Net Position (650,928) 54,762 (524,579) (1,120,745) FUND BALANCES/NET POSITION - Beginning of Year 5,427,616 538,498 982,628 6,948,742 FUND BALANCES/NET POSITION - END OF YEAR 4,776,688$ 593,260$ 458,049$ 5,827,997$ For the Year Ended December 31, 2020 STATEMENT OF ACTIVITIES Statement of Revenues, Expenditures, and Changes in Fund Balances VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES AND GLENVIEW LIBRARY - COMPONENT UNIT 164 Adjustments Total Component Unit - Glenview Library -$ 8,200,174$ - 16,092 - 33,572 - 1,191,756 - 52,455 - 87,076 - 9,581,125 (2,206) 7,181,434 (1,132,750) - (118,873) 510,409 (723,298) 1,032,900 (1,977,127) 8,724,743 1,977,127 856,382 (608,824) - 608,824 - - - 1,977,127 856,382 11,646,054 18,594,796 13,623,181$ 19,451,178$ Statement of Activities VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY GENERAL FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES PROPERTY TAXES Current Year $6,474,187 $6,474,187 $6,460,642 $6,402,024 Prior Year (80,000)(80,000)(67,309)(91,332) Total Property Taxes 6,394,187 6,394,187 6,393,333 6,310,692 CHARGES FOR SERVICES Nonresident Fee 9,000 9,000 7,184 9,827 Personal Books 600 600 97 524 Copying Fees 15,000 15,000 5,993 18,101 Circular Collection Fees 300 300 349 876 Video Fees --8 12,043 Rental Fees 17,500 17,500 2,461 18,655 Total Charges for Services 42,400 42,400 16,092 60,026 FINES AND FORFEITURES Library Fines 48,000 48,000 30,585 50,285 Lost and Paid 9,800 9,800 2,987 10,679 Total Fines and Forfeitures 57,800 57,800 33,572 60,964 INTERGOVERNMENTAL Property Replacement Tax 54,600 54,600 53,946 58,852 Make-Whole Payment 1,080,166 1,080,166 1,070,972 1,106,616 Grant Revenue 56,000 56,000 66,838 59,738 Total Intergovernmental 1,190,766 1,190,766 1,191,756 1,225,206 INVESTMENT INCOME Interest 72,000 72,000 36,408 134,324 OTHER REVENUE Employee Dental Contribution ---16,428 Miscellaneous 22,000 22,000 27,277 86,277 Total Other Revenue 22,000 22,000 27,277 102,705 Total Revenues 7,779,153 7,779,153 7,698,438 7,893,917 EXPENDITURES CULTURE AND RECREATION Library Adminstration Personnel 1,477,934 1,477,934 1,360,805 1,151,878 Contractual Services 366,150 366,150 327,355 322,439 Commodities 22,700 22,700 10,779 9,687 Other Charges 55,000 55,000 58,593 25,622 Total Library Adminstration 1,921,784 1,921,784 1,757,532 1,509,626 165 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY GENERAL FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual Expenditures (cont.) Reader's Services Personnel $910,195 $910,195 $898,399 $858,671 Contractual Services 92,150 92,150 101,973 80,376 Commodities 260,000 260,000 208,486 212,312 Other Charges 6,000 6,000 4,030 2,756 Total Reader's Services 1,268,345 1,268,345 1,212,888 1,154,115 Buildings and Grounds Maintenance Personnel 248,265 248,265 269,068 219,267 Contractual Services 137,743 137,743 183,680 167,346 Commodities 76,125 76,125 55,692 68,169 Other Charges 210 210 559 166 Total Buildings and Grounds Maintenance 462,343 462,343 508,999 454,948 Circulation Personnel 912,350 912,350 821,664 813,841 Contractual Services 16,100 16,100 12,066 15,742 Commodities 18,000 18,000 16,000 8,895 Other Charges 3,350 3,350 2,145 1,912 Total Circulation 949,800 949,800 851,875 840,390 Public Information Personnel 203,645 203,645 203,834 180,897 Contractual Services 100,839 100,839 61,830 60,151 Commodities 4,950 4,950 2,148 1,201 Other Charges 600 600 -271 Total Public Information 310,034 310,034 267,812 242,520 Technical Services Personnel 381,595 381,595 384,026 392,985 Contractual Services 11,050 11,050 4,013 3,888 Commodities 15,550 15,550 10,283 15,973 Other Charges 2,100 2,100 247 264 Total Technical Services 410,295 410,295 398,569 413,110 Youth Services Personnel 691,790 691,790 663,547 622,137 Contractual Services 57,400 57,400 40,421 45,580 Commodities 140,450 140,450 134,789 138,142 Other Charges 7,100 7,100 1,413 2,728 Total Youth Services 896,740 896,740 840,170 808,587 166 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY GENERAL FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual Expenditures (cont.) Reference Personnel $596,595 $596,595 $594,800 $584,467 Contractual Services 193,700 193,700 156,589 165,462 Commodities 102,915 102,915 53,857 67,387 Other Charges 5,420 5,420 3,910 494 Total Reference 898,630 898,630 809,156 817,810 Information Technology Personnel 396,185 396,185 275,828 273,800 Contractual Services 122,042 122,042 107,875 187,392 Commodities 6,150 6,150 1,465 3,911 Other Charges 2,300 2,300 74 3,490 Total Information Technology 526,677 526,677 385,242 468,593 Total Culture and Recreation 7,644,648 7,644,648 7,032,243 6,709,699 CAPITAL OUTLAY Furniture and Fixtures 37,500 37,500 33,186 5,602 Machinery and Equipment 8,900 8,900 13,712 9,098 Information System 258,400 258,400 230,794 217,242 Building Improvements 600,828 600,828 550,607 45,741 Total Capital Outlay 905,628 905,628 828,299 277,683 Total Expenditures 8,550,276 8,550,276 7,860,542 6,987,382 Excess (Deficiency) of Revenues over Expenditures (771,123)(771,123)(162,104)906,535 OTHER FINANCING SOURCES (USES) Transfer (out) Gift Fund ---25,828 Friends of Library --50,000 125,000 Library Special Reserve Fund (287,224)(287,224)(538,824)(217,224) Total Other Financing Sources (Uses)(287,224)(287,224)(488,824)(66,396) Net Change in Fund Balance $(1,058,347)$(1,058,347)(650,928)840,139 FUND BALANCE - Beginning of Year 5,427,616 4,587,477 FUND BALANCE - END OF YEAR $4,776,688 $5,427,616 167 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY DEBT SERVICE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Property $1,796,253 $1,796,253 $1,806,841 $1,802,754 Investment Income 20,000 20,000 10,173 21,164 Total Revenues 1,816,253 1,816,253 1,817,014 1,823,918 EXPENDITURES Culture and Recreation Contractual services --220 220 Total Culture and Recreation --220 220 Debt Service Principal 1,132,750 1,132,750 1,132,750 1,083,500 Interest Expense 629,282 629,282 629,282 683,457 Total Debt Service 1,762,032 1,762,032 1,762,032 1,766,957 Total Expenditures 1,762,032 1,762,032 1,762,252 1,767,177 Net Change in Fund Balance $54,221 $54,221 54,762 56,741 FUND BALANCE - Beginning of Year 538,498 481,757 FUND BALANCE - END OF YEAR $593,260 $538,498 168 169 Friends of the Library Gift Total Special Revenue Assets Cash and Cash Equivalents 40,757$ 107,849$ 148,606$ Total Assets 40,757$ 107,849$ 148,606$ Liabilities and Fund Balances Liabilities Accounts Payable -$ -$ -$ Total Liabilities - - - Fund Balance Restricted 40,757 107,849 148,606 Total Fund Balances 40,757 107,849 148,606 Total Liabilities and Fund Balances 40,757$ 107,849$ 148,606$ As of December 31, 2020 Special Revenue Funds VILLAGE OF GLENVIEW COMBINING BALANCE SHEET GLENVIEW LIBRARY - COMPONENT UNIT - LIBRARY NONMAJOR FUNDS 170 Library Capital Contribution Library Special Reserve Total Capital Project Total Nonmajor Library 48,334$ 274,023$ 322,357$ 470,963$ 48,334$ 274,023$ 322,357$ 470,963$ -$ 12,914$ 12,914$ 12,914$ - 12,914 12,914 12,914 48,334 261,109 309,443 458,049 48,334 261,109 309,443 458,049 48,334$ 274,023$ 322,357$ 470,963$ Capital Projects Funds 171 Friends of the Library Gift Total Special Revenue RevenuesOther Revenue Donations 40,000$ 1,748$ 41,748$ Investment Income 424 837 1,261 Total Revenues 40,424 2,585 43,009 Expenditures Culture and Recreation Contractual Services - - - Miscellaneous 1,134 - 1,134 Capital Outlay - 230 230 Total Expenditures 1,134 230 1,364 Excess (Deficiency) of Revenues over (under) Expenditures 39,290 2,355 41,645 Other Financing Sources (Uses) Transfers In - 20,000 20,000 Transfers Out (50,000) - (50,000) Total Other Financing Sources (Uses)(50,000) 20,000 (30,000) Net Change in Fund Balances (10,710) 22,355 11,645 FUND BALANCE - Beginning of Year 51,467 85,494 136,961 FUND BALANCE - END OF YEAR 40,757$ 107,849$ 148,606$ Special Revenue Funds VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GLENVIEW LIBRARY - COMPONENT UNIT - LIBRARY NONMAJOR FUNDS For the Year Ended December 31, 2020 172 Library Capital Contribution Library Special Reserve Total Capital Project Total Nonmajor Library 18,051$ -$ 18,051$ 59,799$ 515 4,098 4,613 5,874 18,566 4,098 22,664 65,673 - 149,186 149,186 149,186 857 - 857 1,991 - 927,669 927,669 927,899 857 1,076,855 1,077,712 1,079,076 17,709 (1,072,757) (1,055,048) (1,013,403) - 538,824 538,824 558,824 (20,000) - (20,000) (70,000) (20,000) 538,824 518,824 488,824 (2,291) (533,933) (536,224) (524,579) 50,625 795,042 845,667 982,628 48,334$ 261,109$ 309,443$ 458,049$ Capital Projects Funds VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY SPECIAL RESERVE FUND For the Year Ended December 31, 2020 With Comparative Actual Amounts for the Year Ended December 31, 2019 2020 Budgeted Amounts Original Final Actual 2019 Actual REVENUES Investment Income $11,000 $11,000 $4,098 $12,882 Miscellaneous ---3,714 Total Revenues 11,000 11,000 4,098 16,596 EXPENDITURES Culture and Recreation Contractual Services --149,186 5,500 Total Culture and Recreation --149,186 5,500 Capital Outlay Capital Outlay 882,195 882,195 927,669 32,272 Total Expenditures 882,195 882,195 1,076,855 37,772 Deficiency of Revenues under Expenditures (871,195)(871,195)(1,072,757)(21,176) OTHER FINANCING SOURCES Transfers In Library General Fund 287,224 287,224 538,824 217,224 Total Other Financing Sources 287,224 287,224 538,824 217,224 Net Change in Fund Balance $(583,971)$(583,971)(533,933)196,048 FUND BALANCE - Beginning of Year 795,042 598,994 FUND BALANCE - END OF YEAR $261,109 $795,042 173 174 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTSILLINOIS ENVIRONMENT PROTECTION AGENCY LOAN December 31, 2020 Date of Issue October 1, 2010 Date of Maturity April 14, 2031 Amount of Issue 633,827$ Interest Rates 0.00% Principal Maturity Date April 14 and October 14 Paying Agent Illinois Environmental Protection Agency Loan Number: L17-4483 Future Principal and Interest Requirements Fiscal Year Ending December 31,April 14 October 14 Total 2021 12,186$ 12,185$ 24,371$ 2022 12,185 12,185 24,370 2023 12,185 12,185 24,370 2024 12,185 12,185 24,370 2025 12,185 12,185 24,370 2026 12,185 12,185 24,370 2027 12,185 12,185 24,370 2028 12,185 12,185 24,370 2029 12,185 12,185 24,370 2030 12,185 12,185 24,370 2031 12,188 - 12,188 Total 134,039$ 121,850$ 255,889$ Note: Principal will be paid by the Capital Projects Fund. Requirements 175 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION REFUNDING BOND SERIES 2012A December 31, 2020 Date of Issue June 14, 2012 Date of Maturity December 1, 2021Amount of Issue 18,090,000$ Denomination of Bonds 5,000$ Interest Rates 3.00% to 4.00%Interest Dates June 1 and December 1Principal Maturity Date December 1 Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year Ending December 31,Principal Interest Total June 1 Amount December 1 Amount 2021 6,210,000$ 248,400$ 6,458,400$ 2021 124,200$ 2021 124,200$ Total 6,210,000$ 248,400$ 6,458,400$ 124,200$ 124,200$ Note: Principal and interest is payable from the Special Tax Allocation Fund. Requirements Interest Due on 176 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION REFUNDING BOND SERIES 2012B December 31, 2020 Date of Issue December 18, 2012 Date of Maturity December 1, 2024Amount of Issue 14,575,000$ Denomination of Bonds 5,000$ Interest Rates 3.00% to 4.00%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 2021 1,540,000$ 245,900$ 1,785,900$ 2021 122,950$ 2021 122,950$ 2022 1,605,000 184,300 1,789,300 2022 92,150 2022 92,150 2023 1,690,000 120,100 1,810,100 2023 60,050 2023 60,050 2024 1,750,000 52,500 1,802,500 2024 26,250 2024 26,250 Total 6,585,000$ 602,800$ 7,187,800$ 301,400$ 301,400$ Note: Principal and interest is payable from a property tax levy. Requirements Interest Due on 177 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION BOND SERIES 2013A December 31, 2020 Date of Issue December 19, 2013 Date of Maturity December 1, 2033Amount of Issue 6,065,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% to 4.00%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 2021 270,000$ 157,132$ 427,132$ 2021 78,566$ 2021 78,566$ 2022 280,000 149,032 429,032 2022 74,516 2022 74,516 2023 285,000 140,632 425,632 2023 70,316 2023 70,316 2024 295,000 132,082 427,082 2024 66,041 2024 66,041 2025 305,000 123,232 428,232 2025 61,616 2025 61,616 2026 315,000 113,626 428,626 2026 56,813 2026 56,813 2027 325,000 102,600 427,600 2027 51,300 2027 51,300 2028 340,000 89,600 429,600 2028 44,800 2028 44,800 2029 350,000 76,000 426,000 2029 38,000 2029 38,000 2030 365,000 62,000 427,000 2030 31,000 2030 31,000 2031 380,000 47,400 427,400 2031 23,700 2031 23,700 2032 395,000 32,200 427,200 2032 16,100 2032 16,100 2033 410,000 16,400 426,400 2033 8,200 2033 8,200 Total 4,315,000$ 1,241,936$ 5,556,936$ 620,968$ 620,968$ Note: Principal and interest will be paid by the Debt Service Fund via a transfer from the Corporate Fund. Requirements Interest Due on 178 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION BOND SERIES 2013B December 31, 2020 Date of Issue December 19, 2013 Date of Maturity December 1, 2023Amount of Issue 4,385,000$ Denomination of Bonds 5,000$ Interest Rates 1.50% to 3.50% Interest Dates June 1 and December 1Principal Maturity Date December 1 Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year Ending December 31,Principal Interest Total June 1 Amount December 1 Amount 2021 640,000$ 64,450$ 704,450$ 2021 32,225$ 2021 32,225$ 2022 660,000 45,250 705,250 2022 22,625 2022 22,625 2023 680,000 23,800 703,800 2023 11,900 2023 11,900 Total 1,980,000$ 133,500$ 2,113,500$ 66,750$ 66,750$ Note: Principal and interest will be paid by the Waukegan/Golf TIF Fund. Requirements Interest Due on 179 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION REFUNDING BOND SERIES 2016A December 31, 2020 Date of Issue October 27, 2016 Date of Maturity December 1, 2029Amount of Issue 15,326,600$ Denomination of Bonds 5,000$ Interest Rates 4.45% to 5.91%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 2021 1,191,850$ 571,644$ 1,763,494$ 2021 285,822$ 2021 285,822$ 2022 1,250,950 512,052 1,763,002 2022 256,026 2022 256,026 2023 1,314,975 449,504 1,764,479 2023 224,752 2023 224,752 2024 1,383,925 383,756 1,767,681 2024 191,878 2024 191,878 2025 1,452,875 314,560 1,767,435 2025 157,280 2025 157,280 2026 1,521,825 241,916 1,763,741 2026 120,958 2026 120,958 2027 1,600,625 165,824 1,766,449 2027 82,912 2027 82,912 2028 1,669,575 101,800 1,771,375 2028 50,900 2028 50,900 2029 1,723,750 51,712 1,775,462 2029 25,856 2029 25,856 Total 13,110,350$ 2,792,768$ 15,903,118$ 1,396,384$ 1,396,384$ Note: Principal and interest is payable from proceeds of the library property tax levy. Requirements Interest Due on 180 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS ADVANCE METERING INFRASTRUCTURE LOAN December 31, 2020 Date of Issue May 1, 2015 Date of Maturity December 1, 2025Amount of Issue 6,876,024$ Interest Rates 2.00%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Glenview Bank Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 2021 1,031,392$ 91,577$ 1,122,969$ 2021 45,663$ 2021 45,914$ 2022 1,125,155 70,949 1,196,104 2022 35,377 2022 35,572 2023 890,748 48,445 939,193 2023 24,156 2023 24,289 2024 1,012,639 30,630 1,043,269 2024 15,273 2024 15,357 2025 518,899 10,378 529,277 2025 5,175 2025 5,203 Total 4,578,833$ 251,979$ 4,830,812$ 125,644$ 126,335$ Note: Principal and interest will be paid by the Water Fund and Sewer Fund. Requirements Interest Due on 181 Special Revenue Fund Capital Projects Fund Special Tax Allocation Fund Glen Capital Projects Fund Total GNAS Redevelopment Area ASSETSCash and Cash Equivalents 43,990,593$ 104,033$ 44,094,626$ Receivables, Net of Allowances Accounts 101,517 - 101,517 Notes Receivable 2,433,667 - 2,433,667 Lease Receivable 6,090 - 6,090 TOTAL ASSETS 46,531,867$ 104,033$ 46,635,900$ LIABILITIES AND FUND BALANCES Liabilities Accounts Payable 17,128,669$ -$ 17,128,669$ Accrued Payroll 5,479 - 5,479 Advances from Other Funds 16,151,286 - 16,151,286 Total Liabilities 33,285,434 - 33,285,434 Fund Balances Restricted for Economic Development 13,246,433 - 13,246,433 Assigned to Capital Project Funds - 104,033 104,033 Total Fund Balances 13,246,433 104,033 13,350,466 TOTAL LIABILITIES AND FUND BALANCES 46,531,867$ 104,033$ 46,635,900$ VILLAGE OF GLENVIEW COMBINING BALANCE SHEET GLENVIEW NAVAL AIR STATION (GNAS) REDEVELOPMENT AREA FUNDS As of December 31, 2020 182 VILLAGE OF GLENVIEW COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GLENVIEW NAVAL AIR STATION (GNAS) REDEVELOPMENT AREA FUNDS For the Year Ended December 31, 2020 Special Revenue Fund Capital Projects Fund Special Tax Allocation Fund Glen Capital Projects Fund Total GNAS Redevelopment Area REVENUES Property Taxes 38,205,898$ -$ 38,205,898$ Charges for Services 204,360 - 204,360 Intergovernmental 142,212 - 142,212 Investment Income 315,075 823 315,898 Miscellaneous - 3,038 3,038 Total Revenues 38,867,545 3,861 38,871,406 EXPENDITURES Current General Government 21,922,671 - 21,922,671 Debt service Principal 6,030,000 - 6,030,000 Interest and Fiscal Charges 531,247 - 531,247 Total Expenditures 28,483,918 - 28,483,918 Excess of Revenues over Expenditures 10,383,627 3,861 10,387,488 Net Change in Fund Balances 10,383,627 3,861 10,387,488 FUND BALANCES - Beginning of Year 2,862,806 100,172 2,962,978 FUND BALANCES - END OF YEAR 13,246,433$ 104,033$ 13,350,466$ Statistical Section Contents Page Financial Trends 183 - 192 Revenue Capacity 193 - 200 Debt Capacity 201 - 204 Demographic and Economic Information 205 - 208 Operating Information 209 - 212 Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. This part of the Village of Glenview, Illinois' comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the Village's overall financial health. These schedules contain trend information to help the reader understand how the Village's financial performance and well-being have changed over time. These schedules contain information to help the reader assess the Village's most significant local revenue source, the property tax. These schedules present information to help the reader assess the affordability of the Village's current levels of outstanding debt and the Village's ability to issue additional debt in the future. These schedules offer demographic and economic indicators to help the reader understand the environment within the Village's financial activities take place. These schedules contain service and infrastructure data to help the reader understand how the Village's financial report relates to the services the Village provides and the activities it performs. 183 VILLAGE OF GLENVIEW NET POSITION Last Ten Fical Years 2011 2012 2013 2014 GOVERNMENTAL ACTIVITIES Net investment in capital assets 102,217,913$ 109,488,722$ 139,233,309$ 149,950,065$ Restricted 23,711,651 45,978,154 11,484,242 2,407,413 Unrestricted 68,927,169 42,720,345 50,861,602 (11,873,206) TOTAL GOVERNMENTAL ACTIVITIES 194,856,733$ 198,187,221$ 201,579,153$ 140,484,272$ BUSINESS-TYPE ACTIVITIES Net investment in capital assets 55,566,298$ 56,331,598$ 58,075,392$ 60,891,686$ Unrestricted 5,373,918 7,475,383 10,891,341 8,714,501 TOTAL BUSINESS-TYPE ACTIVITIES 60,940,216$ 63,806,981$ 68,966,733$ 69,606,187$ PRIMARY GOVERNMENT Net investment in capital assets 157,784,211$ 165,820,320$ 197,308,701$ 210,841,751$ Restricted 23,711,651 45,978,154 11,484,242 2,407,413 Unrestricted 74,301,087 50,195,728 61,752,943 (3,158,705) TOTAL PRIMARY GOVERNMENT 255,796,949$ 261,994,202$ 270,545,886$ 210,090,459$ Data Source The Village of Glenview's Comprehensive Annual Financial Report. Fiscal Year 184 2015 2016 2017 2018 2019 2020 190,234,952$ 190,133,236$ 200,207,529$ 202,699,589$ 211,320,561$ 225,337,565$ 2,194,487 2,906,999 3,657,835 4,413,818 8,162,705 18,545,802 (11,596,195) (10,645,007) (10,627,289) (9,283,111) (5,872,546) (2,076,177) 180,833,244$ 182,395,228$ 193,238,075$ 197,830,296$ 213,610,720$ 241,807,190$ 55,002,443$ 53,413,336$ 53,974,120$ 55,163,508$ 57,542,738$ 58,722,317$ 6,214,430 5,983,945 7,728,756 8,220,729 9,753,985 12,686,514 61,216,873$ 59,397,281$ 61,702,876$ 63,384,237$ 67,296,723$ 71,408,831$ 245,237,395$ 243,546,572$ 254,181,649$ 257,863,097$ 268,863,299$ 284,059,882$ 2,194,487 2,906,999 3,657,835 4,413,818 8,162,705 18,545,802 (5,381,765) (4,661,062) (2,898,533) (1,062,382) 3,881,439 10,610,337 242,050,117$ 241,792,509$ 254,940,951$ 261,214,533$ 280,907,443$ 313,216,021$ 185 VILLAGE OF GLENVIEW CHANGES IN NET POSITIONLast Ten Fiscal Years 2011 2012 2013 2014 EXPENSES Governmental ActivitiesGeneral government 33,989,230$ 40,172,192$ 38,505,592$ 36,586,774$ Public safety 25,769,097 27,145,548 27,152,669 23,105,414 Public works 8,581,360 6,670,428 7,743,333 22,535,067 Development 10,029,890 6,421,304 14,486,953 11,829,052 Interest on long-term debt 3,353,913 2,984,565 2,547,042 2,231,704 Total Governmental Activities Expenses 81,723,490 83,394,037 90,435,589 96,288,011 Business-Type Activities Water services 8,795,466 10,339,739 9,880,585 10,634,065 North Maine water and sewer services 6,197,752 7,399,749 7,399,181 7,547,458 Sanitary sewer services 1,801,454 1,729,509 1,789,883 2,051,642 Wholesale water 1,119,994 1,157,835 1,129,077 1,064,737 Commuter parking 386,244 449,674 364,679 409,584 Total Business-type Activities Expenses 18,300,910 21,076,506 20,563,405 21,707,486 TOTAL PRIMARY GOVERNMENT EXPENSES 100,024,400$ 104,470,543$ 110,998,994$ 117,995,497$ PROGRAM REVENUES Governmental Activities Charges for Services General government 3,854,148$ 3,564,720$ 7,242,189$ 7,090,956$ Public safety 5,195,936 4,967,056 5,339,032 7,789,777 Public works - 945,812 945,521 945,106 Development 2,015,239 850,749 469,771 817,593 Operating grants and contributions 1,832,805 1,960,093 1,875,489 2,079,987 Capital grants and contributions 2,439,618 746,987 203,909 5,162,690 Total Governmental Activities Program Revenues 15,337,746 13,035,417 16,075,911 23,886,109 Business-Type Activities Charges for ServicesWater services 9,751,605 11,351,729 11,213,172 11,431,761 North Maine water and sewer services 8,120,035 8,229,828 8,611,294 8,068,712 Sanitary sewer services 2,314,028 2,523,022 2,355,451 2,263,025 Wholesale water 2,156,636 2,063,759 2,190,544 1,891,731 Commuter parking 525,991 526,212 570,670 615,754 Operating grants and contributions 27,854 - - - Capital grants and contributions 27,854 - - - Total Business-Type Activities Program Revenues 22,896,149 24,694,550 24,941,131 24,270,983 38,233,895$ 37,729,967$ 41,017,042$ 48,157,092$ NET REVENUE (EXPENSE) Governmental Activities (66,385,744)$ (70,358,620)$ (74,359,678)$ (72,401,902)$ Business-Type Activities 4,595,239 3,618,044 4,377,726 2,563,497 TOTAL PRIMARY GOVERNMENT NET REVENUE (EXPENSE)(61,790,505)$ (66,740,576)$ (69,981,952)$ (69,838,405)$ Fiscal Year TOTAL PRIMARY GOVERNMENT PROGRAM REVENUES 186 2015 2016 2017 2018 2019 2020 34,403,572$ 44,385,296$ 42,184,653$ 42,033,645$ 43,756,473$ 43,729,644$ 20,638,161 34,694,711 34,322,701 36,999,265 38,694,451 33,759,829 26,550,936 12,872,643 18,850,845 15,879,425 14,931,138 14,027,726 5,107,156 8,956,426 4,654,804 6,801,693 3,982,894 3,945,053 2,087,567 1,853,307 2,027,661 1,581,379 1,361,391 974,733 88,787,392 102,762,383 102,040,664 103,295,407 102,726,437 96,436,985 15,164,208 16,376,087 13,118,448 12,902,647 12,015,899 13,032,322 14,915,126 19,318 - - - - 2,034,331 2,326,072 2,292,993 2,152,793 2,179,278 2,006,711 1,172,689 1,276,248 1,393,330 1,404,958 1,428,116 2,336,738 487,345 428,679 489,432 678,344 649,452 686,458 33,773,699 20,426,404 17,294,203 17,138,742 16,272,835 18,062,229 122,561,091$ 123,188,787$ 119,334,867$ 120,434,149$ 118,999,272$ 114,499,214$ 6,776,652$ 4,015,275$ 4,610,434$ 4,838,551$ 3,851,196$ 3,951,113$ 8,017,412 8,036,363 11,164,334 10,013,251 10,284,058 10,563,869 1,011,433 962,941 1,018,286 1,012,457 1,088,877 1,006,921 137,783 261,785 459,205 883,365 208,068 366,412 1,740,265 1,857,331 2,428,438 2,412,378 2,331,999 3,806,521 18,639,549 299,776 472,494 319,461 2,130,850 5,643,948 36,323,094 15,433,471 20,153,191 19,479,463 19,815,048 25,338,784 12,738,153 14,276,095 14,624,348 14,834,822 14,746,014 15,875,036 2,549,981 - - - - - 2,523,041 2,569,752 2,496,477 2,438,304 2,398,120 2,550,313 1,996,831 2,075,114 2,361,124 2,087,966 2,286,564 4,408,385 619,764 640,382 655,069 696,594 688,811 153,287 - - - - - - - - - - 749,463 - 20,427,770 19,561,343 20,137,018 20,057,686 20,868,972 22,987,021 56,750,864$ 34,994,814$ 40,290,209$ 39,537,149$ 40,684,020$ 48,325,805$ (52,464,298)$ (87,328,912)$ (81,887,473)$ (83,815,944)$ (82,911,389)$ (71,098,201)$ (13,345,929) (865,061) 2,842,815 2,918,944 (4,596,137) 4,924,792 (65,810,227)$ (88,193,973)$ (79,044,658)$ (80,897,000)$ (78,315,252)$ (66,173,409)$ 187 2011 2012 2013 2014 GENERAL REVENUES AND OTHER CHANGES IN NET POSITION Governmental ActivitiesTaxes Property taxes 40,146,639$ 37,275,705$ 37,383,036$ 40,785,102$ Other taxes 13,257,071 13,495,498 13,944,053 14,406,764 Sales taxes 12,792,723 13,091,218 13,833,697 14,972,367 Income taxes 3,823,315 3,962,313 4,309,714 4,232,425 Intergovernmental 2,502,500 2,614,374 2,739,777 2,839,239 Investment income 397,478 860,108 785,925 1,407,626 Miscellaneous 464,084 1,562,876 4,104,857 1,703,769 Gain on sale of capital assets - - - - Transfers (2,755,391) 827,016 822,322 1,313,328 Total Governmental Activities 70,628,419 73,689,108 77,923,381 81,660,620 Business-Type Activities Investment income 26,807 33,790 27,046 (153,614) Miscellaneous 7,479 41,947 6,290 21,553 Gain on sale of capital assets - - - - Gain on legal settlement - - 1,571,012 - Transfers 2,755,391 (827,016) (822,322) (1,313,328) Total Business-Type Activities 2,789,677 (751,279) 782,026 (1,445,389) TOTAL PRIMARY GOVERNMENT 73,418,096$ 72,937,829$ 78,705,407$ 80,215,231$ CHANGE IN NET POSITION Governmental Activities 4,242,675$ 3,330,488$ 3,563,703$ 9,258,718$ Business-Type Activities 7,384,916 2,866,765 5,159,752 1,118,108 TOTAL PRIMARY GOVERNMENT CHANGE IN NET POSITION 11,627,591$ 6,197,253$ 8,723,455$ 10,376,826$ Data Source The Village of Glenview's Comprehensive Annual Financial Report. Fiscal Year VILLAGE OF GLENVIEW CHANGE IN NET POSITION (cont.) Last Ten Fiscal Years 188 2015 2016 2017 2018 2019 2020 41,564,097$ 44,672,858$ 46,558,256$ 48,082,053$ 48,961,852$ 52,844,232$ 14,460,977 14,367,678 14,885,856 15,699,176 15,342,199 13,855,521 15,635,705 16,189,240 17,223,884 18,072,001 18,631,360 18,206,509 4,832,506 4,293,596 4,075,812 4,508,718 5,014,901 5,147,028 2,950,181 3,174,289 3,380,756 3,531,640 3,938,961 4,334,825 667,765 1,145,352 1,291,016 2,106,936 3,149,929 2,189,159 1,701,143 4,075,921 1,953,561 1,737,297 2,676,583 1,727,659 - - 2,558,900 52,458 49,490 91,714 11,000,896 971,962 802,279 1,082,804 881,334 898,024 92,813,270 88,890,896 92,730,320 94,873,083 98,646,609 99,294,671 15,093 9,637 - - - - 15,942,418 7,794 18,249 101,483 191,730 84,051 - - 246,810 2,523 5,953 1,289 - - - - - - (11,000,896) (971,962) (802,279) (1,082,804) (881,334) (898,024) 4,956,615 (954,531) (537,220) (978,798) (683,651) (812,684) 97,769,885$ 87,936,365$ 92,193,100$ 93,894,285$ 97,962,958$ 98,481,987$ 40,348,972$ 1,561,984$ 10,842,847$ 11,057,139$ 15,735,220$ 28,196,470$ (8,389,314) (1,819,592) 2,305,595 1,940,146 3,912,486 4,112,108 31,959,658$ (257,608)$ 13,148,442$ 12,997,285$ 19,647,706$ 32,308,578$ 189 VILLAGE OF GLENVIEW FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years Fiscal Year 2011 2012 2013 2014 GENERAL FUND Reserved -$ -$ -$ -$ Unreserved - - - - Nonspendable 131,424 195,280 87,738 176,110 Committed - - 1,700,000 850,000 Assigned - - 3,208,020 5,364,276 Unassigned 24,086,602 25,564,806 26,823,063 24,306,476 TOTAL GENERAL FUND 24,218,026$ 25,760,086$ 31,818,821$ 30,696,862$ ALL OTHER GOVERNMENTAL FUNDS Reserved -$ -$ -$ -$ Unreserved, reported in Special revenue funds - - - - Capital project funds - - - - Debt service funds - - - - Nonspendable - 64,508 53,289 42,070 Restricted 52,257,800 45,978,154 11,484,242 2,407,413 Assigned - - 42,275,455 31,933,727 Unassigned - - - (13,171,320) TOTAL ALL OTHER GOVERNMENTAL FUNDS 52,257,800$ 46,042,662$ 53,812,986$ 21,211,890$ TOTAL GOVERNMENTAL FUNDS 76,475,826$ 71,802,748$ 85,631,807$ 51,908,752$ Note: The Village implemented GASB Statement No. 54 for the year ended December 31, 2011. This resulted in a change in fund balance classification. The Village has not elected to report this change retroactively. Data Source The Village of Glenview's Comprehensive Annual Financial Report. 190 2015 2016 2017 2018 2019 2020 -$ -$ -$ -$ -$ -$ - - - - - - 499,800 155,205 128,795 123,985 153,608 165,910 - - - - - - - - 3,100,000 9,100,000 - 1,000,000 25,739,072 25,335,141 26,530,097 26,626,131 36,319,710 32,445,006 26,238,872$ 25,490,346$ 29,758,892$ 35,850,116$ 36,473,318$ 33,610,916$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - 30,851 19,633 8,414 - - - 2,194,487 2,906,999 3,657,835 4,413,818 8,162,705 18,545,802 34,155,883 31,341,543 30,339,651 30,511,221 32,391,463 35,310,055 (11,572,271) (8,935,926) (6,619,132) (2,770,450) - - 24,808,950$ 25,332,249$ 27,386,768$ 32,154,589$ 40,554,168$ 53,855,857$ 51,047,822$ 50,822,595$ 57,145,660$ 68,004,705$ 77,027,486$ 87,466,773$ 191 VILLAGE OF GLENVIEW CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years 2011 2012 2013 2014 REVENUES Taxes 53,403,710$ 50,771,203$ 51,327,089$ 55,191,866$ Intergovernmental 26,342,403 24,796,132 25,747,882 28,843,610 Charges for services 6,111,175 6,519,625 8,082,885 9,789,188 Licenses and permits 1,859,161 1,923,238 4,461,768 5,103,571 Fines and forfeitures 181,361 224,198 228,419 255,899 Investment income 397,478 422,751 341,472 399,971 Miscellaneous Land sales - - - - Other 205,014 709,998 486,493 796,354 Total revenues 88,500,302 85,367,145 90,676,008 100,380,459 EXPENDITURES General government 31,153,019 38,411,652 35,582,816 36,391,244 Public safety 25,710,435 26,369,673 26,687,294 27,212,096 Public works 7,883,609 7,036,995 7,489,675 9,523,902 Development 4,293,220 1,261,328 1,016,437 4,078,982 Debt service Principal 10,051,617 8,208,235 30,983,776 32,364,371 Interest and fiscal charges 3,762,159 3,279,464 2,761,174 2,388,883 Bond issuance costs 38,818 139,044 61,176 - Capital outlay 8,336,649 6,060,977 8,253,623 34,631,202 Total expenditures 91,229,526 90,767,368 112,835,971 146,590,680 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (2,729,224) (5,400,223) (22,159,963) (46,210,221) OTHER FINANCING SOURCES (USES) Transfers in 31,368,232 6,281,471 13,052,864 16,557,993 Transfers out (33,163,914) (5,702,833) (11,837,724) (12,684,506) Bonds Issued 11,035,000 40,395,000 38,575,000 6,529,688 Premium on bonds issued - - (11,539) - Discount on bonds issued - 4,432,391 69,535 - Payment to escrow agent (11,000,000) (44,678,884) - - Proceeds from capital lease - - - - Sale of capital assets - - (3,859,114) 2,083,991 Total Other Financing Sources (Uses)(1,760,682) 727,145 35,989,022 12,487,166 NET CHANGE IN FUND BALANCES (4,489,906)$ (4,673,078)$ 13,829,059$ (33,723,055)$ DEBT SERVICE AS A PERCENTAGE OF NONCAPITAL EXPENDITURES 15.71%13.28%31.21%28.34% Data SourceThe Village of Glenview's Comprehensive Annual Financial Report. Fiscal Year 192 2015 2016 2017 2018 2019 2020 56,025,074$ 59,040,536$ 61,444,112$ 63,781,229$ 64,304,051$ 66,709,887$ 47,874,058 29,203,967 31,357,689 31,224,129 33,688,404 34,709,699 11,784,003 10,235,729 12,664,145 12,746,771 13,043,204 12,710,012 3,208,298 2,088,538 2,451,693 2,810,054 1,871,593 2,114,688 164,673 209,062 211,592 130,281 121,707 93,008 306,361 544,236 996,459 1,870,798 2,487,062 1,040,300 - - - - - - 120,603 2,503,274 261,396 434,154 279,865 162,298 119,483,070 103,825,342 109,387,086 112,997,416 115,775,886 117,539,892 38,168,909 39,187,095 40,680,381 41,209,378 41,269,969 40,054,442 28,421,350 29,601,085 29,578,436 29,857,646 31,320,192 34,502,047 9,260,772 10,229,806 8,755,999 8,233,133 7,772,011 7,552,623 3,947,132 3,992,133 3,704,509 4,012,804 3,505,451 3,483,380 17,975,309 8,230,309 9,000,309 9,200,309 9,455,309 8,414,371 2,263,186 1,923,782 1,827,110 1,772,060 1,608,865 1,085,110 20,250 - - - - - 43,130,127 12,108,321 13,184,473 9,026,237 13,046,601 13,156,656 143,187,035 105,272,531 106,731,217 103,311,567 107,978,398 108,248,629 (23,703,965) (1,447,189) 2,655,869 9,685,849 7,797,488 9,291,263 33,455,261 9,514,205 11,740,499 10,707,249 14,214,015 14,855,556 (21,593,677) (8,292,243) (10,534,303) (9,534,053) (13,082,681) (13,707,532) 10,000,000 - - - - - - - - - - - - - - - - - - - - - - - 981,451 - - - - - - - 2,461,000 - 48,755 - 22,843,035 1,221,962 3,667,196 1,173,196 1,180,089 1,148,024 (860,930)$ (225,227)$ 6,323,065$ 10,859,045$ 8,977,577$ 10,439,287$ 18.65%10.31%11.16%10.93%10.86%9.98% 193 VILLAGE OF GLENVIEW ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Levy Years Levy Residential Commercial Industrial Year Property Property Property Railroad Farm 2010 2,298,836,300$ 388,196,316$ 27,515,890$ 333,270$ 368$ 2011 1,763,765,871 499,476,841 184,570,112 354,177 - 2012 1,637,952,132 481,487,771 171,866,548 400,750 - 2013 1,409,769,224 450,231,431 165,239,212 495,230 - 2014 1,528,673,674 432,810,794 86,468,650 516,425 - 2015 1,495,671,114 420,439,314 96,170,413 620,212 - 2016 1,882,037,642 473,291,035 105,639,846 631,074 - 2017 1,920,341,987 487,300,652 110,847,872 643,867 - 2018 1,874,142,503 470,822,908 110,155,470 691,897 - 2019 2,072,476,033 605,987,591 133,052,968 755,416 91,111 Data Source Office of the County Clerk Note : Property in the Village is reassesed each year. Property is assessed at 33% of actual value. 194 Total Estimated Estimated Total Taxable Direct Actual Actual Assessed Tax Taxable Taxable Value Rate Value Value 2,714,882,144$ 4.08$ 8,144,646,432$ 33.333% 2,448,167,001 4.56 7,344,501,003 33.333% 2,291,707,201 4.82 6,875,121,603 33.333% 2,025,735,097 5.53 6,077,205,291 33.333% 2,048,469,543 5.54 6,145,408,629 33.333% 2,012,901,053 5.85 6,038,703,159 33.333% 2,461,599,597 4.93 7,384,798,791 33.333% 2,519,134,378 4.95 7,557,403,134 33.333% 2,455,812,778 5.12 7,367,438,334 33.333% 2,812,363,119 5.12 8,437,089,357 33.333% 195 VILLAGE OF GLENVIEW DIRECT AND OVERLAPPING PROPERTY TAX RATES Last Ten Levy Years 2010 2011 2012 2013 2014 Village of Glenview Corporate 0.162$ 0.177$ 0.188$ 0.203$ 0.176$ Bonds and interest 0.076 0.084 0.083 0.095 0.091 Police pension 0.065 0.074 0.073 0.098 0.098 Fire pension 0.105 0.120 0.139 0.157 0.188 Total direct tax rate 0.408 0.455 0.482 0.553 0.553 Glenview Public Library 0.253 0.303 0.347 0.396 0.394 Glenview Special Service Area #17 0.210 0.115 - - - Glenview Special Service Area #18 0.280 0.148 - - - Glenview Special Service Area #20 0.165 - - - - Glenview Special Service Area #22 0.142 - - - - Glenview Special Service Area #32 0.074 0.082 0.087 0.066 - Glenview Special Service Area #33 0.333 0.370 0.391 0.422 - Glenview Special Service Area #35 0.223 0.233 0.248 0.344 0.328 Glenview Special Service Area #36 0.138 0.153 0.162 0.181 - Glenview Special Service Area #37 0.117 0.133 0.141 0.159 - Glenview Special Service Area #38 0.844 0.894 0.854 1.250 1.210 Glenview Special Service Area #40 - 0.079 0.085 0.094 0.094 Glenview Special Service Area #41 - 0.079 0.086 0.094 0.079 Glenview Special Service Area #42 0.406 0.440 0.470 0.586 0.575 Glenview Special Service Area #43 - 0.122 0.130 0.138 0.138 Glenview Special Service Area #44 - 0.168 0.191 0.221 0.212 Glenview Special Service Area #45 - 0.444 0.446 0.477 0.467 Glenview Special Service Area #46 - 0.598 0.550 0.553 0.581 Glenview Special Service Area #47 0.546 0.568 0.605 0.775 0.713 Glenview Special Service Area #49 - 0.241 0.261 0.312 0.312 Glenview Special Service Area #50 - 0.130 0.140 0.153 0.150 Glenview Special Service Area #51 - 0.279 0.297 0.354 0.349 Glenview Special Service Area #52 - 0.141 0.151 0.170 0.168 Glenview Special Service Area #53 - 1.035 1.206 1.296 1.263 Glenview Special Service Area #54 - 0.695 0.739 0.796 0.751 Glenview Special Service Area #55 0.423 0.410 0.378 0.430 0.379 Glenview Special Service Area #56 0.903 0.971 1.022 1.185 1.090 Glenview Special Service Area #57 0.538 0.566 0.586 0.677 0.668 Glenview Special Service Area #61 - 0.188 0.201 0.232 0.228 Glenview Special Service Area #62 0.213 0.228 0.239 0.280 0.272 Glenview Special Service Area #63 0.232 0.245 0.257 0.273 0.271 Glenview Special Service Area #81 - - - - - Glenview Special Service Area #90 - - - - - Glenview Special Service Area #95 - - - - - Tax Levy Year 196 2015 2016 2017 2018 2019 0.162$ 0.156$ 0.156$ 0.164$ 0.071$ 0.092 0.075 0.074 0.075 0.067 0.127 0.103 0.100 0.103 0.126 0.203 0.159 0.164 0.169 0.187 0.584 0.493 0.494 0.511 0.450 0.415 0.343 0.336 0.340 0.299 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 0.335 0.255 - - - - - - - - - - - - - 1.260 1.038 1.058 1.071 0.914 0.098 0.074 0.070 0.071 0.056 0.084 0.063 0.053 0.055 0.050 0.585 0.524 0.468 0.436 0.431 0.140 0.113 0.103 0.104 0.087 0.210 0.168 0.148 0.149 0.141 0.470 0.371 0.344 0.351 0.307 0.624 0.471 0.442 0.454 0.446 0.724 0.596 0.600 0.618 0.581 0.318 0.245 0.225 0.229 0.211 0.160 0.129 0.114 0.117 0.100 0.351 0.249 0.233 0.238 0.223 0.174 0.156 0.133 0.133 0.115 1.163 0.800 0.677 0.689 0.615 0.698 0.480 0.401 0.408 0.359 0.426 0.332 0.299 0.292 0.343 1.210 0.996 0.898 0.925 0.822 0.682 0.592 0.531 0.529 0.472 0.241 0.175 0.157 0.147 0.138 0.332 0.269 0.251 0.229 0.173 0.322 0.238 0.234 0.176 0.159 - 0.310 0.258 0.262 0.231 - 0.083 0.071 0.072 0.063 0.917 0.848 0.513 0.686 0.505 (Continued) 197 VILLAGE OF GLENVIEW DIRECT AND OVERLAPPING PROPERTY TAX RATES Last Ten Levy Years 2010 2011 2012 2013 2014 Avoca School District #37 2.022$ 2.281$ 2.557$ 2.762$ 2.957$ County Consolidated Elections - 0.025 - 0.031 - County of Cook 0.423 0.462 0.531 0.560 0.568 East Maine School District #63 2.499 2.775 3.100 3.864 3.811 Forest Preserve District 0.051 0.058 0.063 0.069 0.069 Glenview Park District 0.483 0.538 0.579 0.662 0.661 Glenview School District #34 2.160 2.429 2.706 3.129 3.173 Golf School District #67 2.203 2.449 2.961 3.497 3.427 Maine High School #207 1.782 1.995 2.215 2.722 2.739 Maine Township - General 0.075 0.085 0.096 0.120 0.119 Maine Township - General Assistance 0.018 0.021 0.023 0.029 0.029 Maine Township - Road and Bridge 0.038 0.043 0.049 0.061 0.062 Metropolitan Water Reclamation Dist.0.274 0.320 0.370 0.417 0.430 New Trier High School #203 1.474 1.674 1.864 2.111 2.268 New Trier Township - General 0.037 0.042 0.047 0.054 0.055 New Trier Township - General Assistance 0.004 0.005 0.006 0.007 0.007 Niles High School #219 2.538 2.904 3.256 3.707 3.650 Niles Township - General 0.032 0.037 0.042 0.049 0.050 Niles Township - General Assistance 0.004 0.005 0.006 0.007 0.007 North Shore Mosquito Abatement 0.009 0.010 0.010 0.007 0.011 Northbrook School District #30 2.327 2.641 2.999 3.381 3.272 Northfield High School #225 1.609 1.819 2.028 2.341 2.367 Northfield Township - General 0.013 0.020 0.024 0.031 0.032 Oakton Community College #535 0.160 0.196 0.219 0.256 0.258 Suburban T.B. Sanitarium - - - - - West Northfield School District #31 1.730 2.018 2.525 2.946 2.911 Wilmette School District #39 2.314 2.620 2.922 3.229 3.356 Northfield Township - Road and Bridge 0.036 0.041 0.046 0.053 0.054 Northfield Township - General Assistance 0.011 0.008 0.009 0.008 0.007 Northfield Woods Sanitary District 0.067 0.079 0.082 0.098 0.099 North Maine Fire Protection District 1.254 1.366 1.452 1.814 1.815 Northbrook Park District 0.375 0.424 0.471 0.536 0.537 Oak Meadow Sanitary District 0.045 0.051 0.056 0.066 0.067 Northwest Mosquito Abatement 0.009 0.010 0.011 0.013 0.013 Data Source Office of the County Clerk *Property tax rates are per $100 of assessed valuation Tax Levy Year 198 2015 2016 2017 2018 2019 3.094$ 2.662$ 2.661$ 2.820$ 2.646$ - - 0.031 - 0.030 0.552 0.533 0.496 0.489 0.454 4.040 3.492 3.556 3.763 3.245 0.069 0.063 0.062 0.060 0.059 0.684 0.563 0.567 0.651 0.576 3.291 2.719 2.745 2.898 2.584 3.552 2.957 2.962 3.110 2.766 2.901 2.507 2.529 2.652 2.553 0.124 0.108 0.105 0.092 0.033 0.031 0.027 0.021 - - 0.065 0.056 0.057 0.060 0.053 0.426 0.406 0.402 0.396 0.389 2.380 1.974 1.993 2.111 2.028 0.058 0.049 0.050 0.053 0.033 0.008 0.007 0.007 0.008 - 3.891 3.460 3.409 3.347 3.017 0.052 0.046 0.047 0.049 0.045 0.008 0.007 0.007 0.008 0.007 0.012 0.010 0.010 0.010 0.009 3.394 2.866 3.193 3.310 3.310 2.493 2.106 2.102 2.216 2.216 0.028 0.024 0.023 0.024 0.024 0.271 0.231 0.232 0.246 0.221 - - - - - 3.107 2.699 2.700 2.842 2.577 3.502 2.840 2.880 3.081 2.939 0.057 0.049 0.049 0.052 0.021 0.007 0.006 0.006 0.007 0.007 0.098 0.088 0.065 0.093 0.082 1.906 1.664 1.711 1.770 1.416 0.569 0.423 0.419 0.456 0.416 0.069 0.059 0.063 0.064 0.052 0.011 0.010 0.010 0.011 0.009 199 VILLAGE OF GLENVIEW PRINCIPAL PROPERTY TAXPAYERS Current Year and Nine Years Ago 2019 2010 Percentage Percentage of Total of Total Village Village Taxable Taxable Taxable Taxable Assessed Assessed Assessed Assessed Taxpayer Value Rank Valuation Value Rank Valuation Illinois Tool Corp 45,965,932 $ 1 1.63%$ Abt Electronics 28,823,625 2 1.02% The Glenview Center 23,355,481 3 0.83% Kimco Realty Corp.21,623,925 4 0.77% CPUS Glen Pointe LP 20,474,193 5 0.73% Northshore University 20,311,363 6 0.72%Astella US Holdings 19,930,332 7 0.71% Signode , Division of ITW 19,428,486 8 0.69%20,483,461 7 0.68% Abingdon of Glenview 19,101,206 9 0.68% Glen Gate Retail LLC 18,791,075 10 0.67% Kraft USA 45,135,166 1 1.50% Grubb & Ellis 42,849,591 2 1.43% Oliver McMillan LLC 39,083,323 3 1.30% Mid America Asset 34,097,368 4 1.14% Cole Real Estate Investments 26,527,796 5 0.88% Vi (Classic Residence Hyatt)23,780,986 6 0.79% AGF Sanders Office 19,442,778 8 0.65% Anixter, Inc.15,906,343 9 0.53% Bethany Methodist 14,312,801 10 0.48% 237,805,618 $ 8.46%281,619,613 $ 9.39% Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers own multiple parcels, and it is possible that some parcels and their valuations have been overlooked. 200 VILLAGE OF GLENVIEW PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Tax Levy Years Property Subsequent Levy Fiscal Taxes Taxes Percentage Year Taxes Percentage Year Year Levied Received of Levy Collections Received of Levy 2010 2011 17,919,376$ 17,269,565$ 96.37%248,456$ 17,518,021$ 97.76% 2011 2012 18,561,309 18,202,205 98.07%54,411 18,256,616 98.36% 2012 2013 18,977,508 18,647,991 98.26%(8,221)18,639,770 98.22% 2013 2014 19,213,934 18,997,309 98.87%(80,621)18,916,688 98.45% 2014 2015 19,401,829 19,017,834 98.02%(80,264)18,937,570 97.61% 2015 2016 20,103,470 19,871,822 98.85%(70,517)19,801,305 98.50% 2016 2017 20,553,974 20,404,588 99.27%(92,393)20,312,195 98.82% 2017 2018 20,898,255 20,721,748 99.16%(40,485)20,681,263 98.96% 2018 2019 20,889,249 20,707,546 99.13%(75,346)20,632,200 98.77% 2019 2020 21,051,445 20,711,241 98.38%- 20,711,241 98.38% Source: Office of the County Clerk Note: Property in the Village is assessed annually. Property is assessed at approximately 33% of the actual value on January 1 and property taxes are levied in December of the tax levy year. Collected within the Total Collections Fiscal Year after the Levy Per Levy 201 VILLAGE OF GLENVIEW RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Governmental Activities Business-Type Activities Percentage Total Fiscal General Special General of Outstanding Year Obligation Loans Service Obligation Notes Total Personal Debt Per Ended Bonds Payable Area Bonds Payable Village Income*Capita* 2011 99,115,000$ -$ -$ 3,860,000$ 1,395,273$ 104,370,273$ 4.39%2,335 2012 89,415,000 - - 2,950,000 1,248,854 93,613,854 4.03%2,095 2013 72,742,817 28,551,488 - 2,248,585 1,095,199 104,638,089 4.48%2,341 2014 68,093,601 6,931,805 - 1,515,810 933,950 77,475,166 3.32%1,706 2015 60,984,345 5,601,496 - 767,957 3,003,592 70,357,390 2.96%1,550 2016 53,732,671 4,271,187 - - 6,829,143 64,833,001 2.70%1,410 2017 45,983,788 2,940,880 - - 6,547,854 55,472,522 2.14%1,191 2018 37,645,969 1,610,569 - - 6,079,040 45,335,578 1.62%963 2019 29,053,149 280,260 - - 5,422,699 34,756,108 1.19%735 2020 20,331,496 255,889 - - 4,578,833 25,166,218 0.82%532 Source: The Village of Glenview's Comprehensive Annual Financial Report. * Additional demographic information is available in the schedule of Demographic and Economic Statistics . 202 VILLAGE OF GLENVIEW RATIOS OF GENERAL BONDED DEBT OUTSTANDING Last Ten Fiscal Years Percentage of Assessed General Less Taxable Debt Fiscal Obligation Debt Value of Per Year Bonds Service Funds Total Property (1)Capita (2) 2011 102,975,000$ -$ 102,975,000$ 3.79%2,304 $ 2012 92,365,000 - 92,365,000 3.77%2,067 2013 74,991,402 - 74,991,402 3.27%1,566 2014 69,609,411 - 69,609,411 3.44%1,558 2015 61,752,302 - 61,752,302 3.01%1,360 2016 53,732,671 - 53,732,671 2.67%1,184 2017 45,983,788 - 45,983,788 1.87%988 2018 37,645,969 - 37,645,969 1.49%800 2019 29,053,149 - 29,053,149 1.18%615 2020 20,331,496 - 20,331,496 0.72%430 Source: The Village of Glenview's Comprehensive Annual Financial Report. (1) See the Schedule of Assessed Value and Actual Value of Taxable Property for property value data. (2) See the Schedule of Demographics and Economic Statistics. 203 VILLAGE OF GLENVIEW DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT As of December 31, 2020 Percentage Village of Debt Applicable Glenview to the Village of Share Governmental unit Debt Glenview (1)of Debt Direct Debt Village of Glenview 20,587,385 $ 100.00%20,587,385 $ Overlapping Bonded Debt Glenview Special Service Areas 2,122,485 100.00%2,122,485 Glenview Park District 22,165,000 84.97%18,833,601 Cook County, including Forest Preserve District 2,681,856,750 1.67%44,787,008 Metropolitan Water Reclamation District 2,563,828,340 1.70%43,585,082 School Districts Elementary School Districts Avoca School District No. 37 8,440,000 8.59%724,996 East Maine School District No. 63 46,415,000 4.57%2,121,166 Glenview School District No. 34 66,355,000 89.47%59,367,819 Golf School District No. 67 7,266,597 13.18%957,737 Northbrook School District No. 30 43,345,000 31.56%13,679,682 West Northfield School District No. 31 11,410,000 49.26%5,620,566 Wilmette School District No. 39 11,195,000 4.69%525,046 High School Districts Maine Township District No. 207 122,655,000 1.06%1,300,143 New Trier Township District No. 203 72,475,000 2.35%1,703,163 Niles Township District No. 219 51,738,952 1.13%584,650 Northfield Township District No. 225 58,100,429 42.14%24,483,521 Community College District Oakton Community College No. 535 47,200,000 11.04%5,210,880 Total overlapping bonded debt 5,816,568,553 225,607,542 Total direct and overlapping bonded debt 5,837,155,938 $ 246,194,928 $ Source: Cook County Clerk as of 04/10/2021 (1) Determined by the ratio of assessed valuation of property subject to taxation in the Village of Glenview to the valuation of property subject to taxation in overlapping unit. Based on 2018 real property valuations. 204 VILLAGE OF GLENVIEW LEGAL DEBT MARGIN INFORMATION As of December 31, 2020 To date, the Illinois General Assembly has not set limits for home rule municipalities. The Village of Glenview is a home rule municipality in the state of Illinois. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt margin and reads as follows: "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property....(2) if its population is more than 25,000 and less than 50,000 an aggregate of one percent; ... Indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum...shall not be 205 VILLAGE OF GLENVIEW DEMOGRAPHIC AND ECONOMIC STATISTICS Last Ten Fiscal Years Per Personal Capita Fiscal Income Personal Unemployment Year Population (in Thousands)Income Rate 2011 44,692 2,379,670$ 53,246$ 6.8% 2012 44,692 2,321,883 51,953 6.2% 2013 44,692 2,334,129 52,227 6.3% 2014 45,417 2,336,932 51,455 6.1% 2015 45,400 2,375,600 52,326 4.4% 2016 45,969 2,398,065 52,167 4.1% 2017 46,559 2,594,128 55,717 3.7% 2018 47,066 2,803,769 59,571 2.6% 2019 47,258 2,913,172 61,644 2.4% 2020 47,308 3,083,062 65,170 7.0% Source: Population information provided by the U.S. Census Bureau Per capita information provided by the American Community Survey Unemployment data provided by Illinois Department of Employment Security (IDES) 206 VILLAGE OF GLENVIEW PRINCIPAL EMPLOYERS Current Year and Nine Years Ago % of % of Number of Total Village Number of Total VillageEmployerRankEmployeesPopulationRankEmployeesPopulation Astellas 1 2,551 5.39% Abt Electronics 2 1,620 3.42%2 1,100 2.46% Glenbrook Hospital 3 1,099 2.32%3 1,000 2.24% Anixter, Inc.4 950 2.01%7 668 1.49% Glenview Comm. School Dist 34 5 732 1.55%6 693 1.55% Kraft Foods Technology Center 6 580 1.23%1 1,440 3.22% ITW 7 550 1.16%4 725 1.62% Glenbrook South High School 8 405 0.86%10 391 0.87% Glenview Terrace Nursing Home 9 400 0.85%9 441 0.99% Signode 10 393 0.83% Aon 5 708 1.58% Scott Foresman (Pearson)8 550 1.23% 19.62%17.26% Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact 2019 2010 207 VILLAGE OF GLENVIEW FULL-TIME EQUIVALENT EMPLOYEES Last Ten Fiscal Years Function/Program 2011 2012 2013 2014 General Government Management services (1)11 15 15 15 Administrative services (1)13 13 12 13 Planning and economic development (2)5 5 5 - Community development (3)- - - 21 Capital projects (3)25 25 20 - Total general government 54 58 52 49 Public safety Police Officers 71 70 70 70 Civilians 16 12 12 11 Fire Firefighters and officers 80 80 80 80 Civilians 2 2 2 1 Joint dispatch 19 21 27 40 Total public safety 188 185 191 202 Public works Administration 6 6 6 6 Facilities maintenance (4)- - - 4 Street maintenance 20 21 21 21 Water maintenance 21 18 19 19 Fleet maintenance 3 4 4 4 Natural resources 1 1 1 1 Total public works 51 50 50 55 Total full-time equivalent employees 293 293 293 306 (1)Records division previously included in Management Services is included in Administrative Services as of 2015. (2) Planning and Economic Development, previously its own department, is included in Community Development as of 2014. (3) Capital Projects is renamed Community Development as of 2014. (4) Facilities division previously included in Capital Projects is included in Public Works as of 2014. Data source: Village Budget Office 208 2015 2016 2017 2018 2019 2020 9 9 10 10 11 11 16 16 14 17 14 13 - - - - - - 20 19 18 18 18 16 - - - - - - 45 44 42 45 43 40 70 70 70 70 69 69 5 5 5 5 7 6 80 80 80 80 81 80 1 1 1 1 1 1 40 42 48 49 49 48 196 198 204 205 207 204 5 6 6 5 4 4 4 4 4 3 3 - 21 21 20 20 13 14 16 16 16 15 16 13 4 4 4 4 3 3 1 1 1 1 1 1 51 52 51 48 40 35 292 294 297 298 290 279 209 VILLAGE OF GLENVIEW OPERATING INDICATORS BY FUNCTION/PROGRAM Last Ten Fiscal Years Function/Program 2011 2012 2013 2014 Public Safety Police Physical arrests 571 544 570 506 Parking violations 2,243 1,125 2,272 1,922 Traffic violations 2,446 2,511 2,646 2,352 Fire Emergency responses Emergency medical 4,948 4,832 4,495 4,860 Other responses 2,359 2,327 2,835 2,821 Fires extinguished 28 63 47 39 Fires extinguished (structures)26 27 26 32 Public works Pothole repairs (hours)3,453 4,267 4,390 5,182 Water Metered water customers 15,786 15,894 15,889 16,050 Water main breaks 114 171 146 102 Water purchases (in ten-thousands of gallons)285,877 306,706 289,550 273,095 Average daily consumption 133 138 129 120 Building Permits issued 2,552 1,471 1,918 3,503 Value of construction (in thousands of dollars)98,541 $ 39,693 $ 164,556 $ 193,829 $ Data Source Various Village departments. 210 2015 2016 2017 2018 2019 2020 551 557 544 476 380 246 2,388 1,813 2,509 1,840 1,912 380 2,198 3,491 3,214 3,365 3,334 2,075 4,925 5,220 5,668 5,505 5,700 5,022 2,898 3,032 2,968 3,164 3,142 2,636 41 42 67 98 98 105 45 38 41 47 18 14 5,519 4,115 3,918 3,671 2,892 1,000 16,053 16,139 16,243 16,272 16,035 16,335 59 134 91 142 103 104 272,568 288,410 280,038 281,164 256,094 316,042 111 107 103 113 110 106 3,433 2,042 2,457 3,389 3,015 3,214 119,447 $ 110,630 $ 94,337 $ 127,664 $ 105,552 $ 81,515 $ 211 VILLAGE OF GLENVIEW CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM Last Ten Fiscal Years Function/Program 2011 2012 2013 2014 2015 Public Safety Police Police stations 1 1 1 1 1 Marked patrol units 18 18 18 18 18 Unmarked patrol units 12 12 11 11 11 Motorcycles 4 4 4 4 4 Civilian vehicles N/A 3 3 3 3 Fire Fire stations 5 5 5 5 5 Ambulances 4 4 4 4 4 Fire engines 6 6 6 6 6 Aerial ladder truck 1 1 2 2 2 Passenger vehicles N/A 6 6 5 5 Public works Streets and highways Arterial street miles 18 18 18 18 20 Residential street miles 158 158 158 167 167 Streetlights 1,800 1,800 1,800 1,800 1,800 Water Water main miles 230 230 230 247 230 Fire hydrants 2,733 2,733 2,733 2,823 2,866 Storage capacity (in millions of gallons)16,050 16,050 16,050 16,300 16,300 Wastewater Sanitary sewer miles 150 150 150 150 150 Storm sewer miles 262 262 262 262 262 Parking facilities Parking spaces 1,450 2,048 2,153 2,153 2,153 Data Source: Various Village departments, data varies due to improved GIS capabilities. N/A - Information is not available 212 2016 2017 2018 2019 2020 1 1 1 1 1 18 18 18 18 18 11 11 10 12 12 4 4 2 2 2 3 3 3 3 3 5 5 5 5 5 4 5 5 5 5 6 6 6 6 6 2 2 2 2 2 2 2 5 5 5 20 20 20 20 20 169 169 169 166 166 1,791 1,791 1,791 1,720 1,692 233 233 233 239 239 2,867 2,867 2,913 2,888 2,872 16,300 16,300 16,300 16,300 16,300 150 150 150 142 142 262 262 262 218 218 2,153 2,153 2,153 2,153 2,153